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Information relevant solely to our Republic of Ireland Insolvency and restructuring practice

In the Republic of Ireland, the following applies:

Azets staff taking insolvency appointments are authorised in Ireland by the Chartered Accountants Ireland (“CAI”) or the Association of Chartered Certified Accountants (“ACCA”) to act as Insolvency Practitioners (IPs). One or more Azets IPs may be appointed for formal insolvency cases as Liquidator, Receiver, Examiner or Process Adviser.

Work undertaken under insolvency appointments is subject to insolvency law and regulation primarily the Companies Act, 2014 (as Amended) (“Act”), the Rules of the Superior Courts, Statement of Insolvency Practice in Ireland and guidance issued by the Consultative Committee of Accountancy Bodies – Ireland (“CCAB-I”).

In addition, the IPs are subject to the International Code of Ethics for Professional Accountants (including International Independence Standards), issued by the International Ethics Standards Board for Accountants (“IESBA)”. The CAI adopted the Code of Ethics for Professional Accountants developed by IESBA and issued the Code of Ethics D for its insolvency practitioners.

Pursuant to the provisions of the General Data Protection Regulation (“GDPR”), the IPs are obliged to provide data subjects with certain information in relation to the processing of their personal data. The IPs will seek for specific information from data subjects so that they may carry out their statutory duties under the Act. Please see below a non-exhaustive list of uses for any personal data which data subjects may provide:

  • the provision of references, compliance or reports, where appropriate, to the members, creditors, committee of inspections, the Courts, regulatory authorities, secured lenders, other relevant public authorities or agencies;
  • compliance with certain legal obligations to which the company or individual may be subject;
  • analysis for management purposes and statutory returns;
  • the provision of business services including, if applicable, the realisation of assets, assessing the validity of debts, to contact data subjects in relation to their debts, adjudicating level of debts, the payment of dividends and recording of said payments;
  • the reasonable and lawful provision of information to interested parties;
  • the calculation and analysis of payroll, billing, credit control and other data relating to the company’s finances and the transfer of such data for use by financial personnel and other appropriate independent third parties;
  • processing for personal purposes of employees in accordance with the law and the company’s and/or individual’s policies and rules;
  • maintaining security of the company, any personnel and data;
  • the prevention and detection of crime or fraud;
  • quality and risk management purposes;
  • legal proceedings (including prospective legal proceedings);
  • obtaining legal advice;
  • establishing, exercising or defending legal rights.

Under each appointment, the IP(s) are acting as controllers and they will retain the personal data for a period of 6 years after their appointment ceases, as required by the Act or as directed by the Court and a further period of up to 12 months to arrange for destruction of the Data.

Data Subjects have certain rights under the GDPR which include the right to access and rectify their personal data held. Please read the Privacy Policy of Azets Ireland (“Azets”) which may be viewed on our website https://www.azets.ie/about-us/privacy-policy/. Data subjects have the right to lodge a complaint with the Data Protection Commission if they are not satisfied with the processing of their personal data. Data subjects may write to the Azets’s Data Protection Representative (“DPR”) at Data Protection, Azets, 3rd Floor, 40 Mespil Road, Dublin 4, D04 C2N4, Ireland or alternatively please email the Azets’s DPR at dataprotection@azets.ie should they wish to exercise their rights as set out in the Privacy Policy