Companies

Emergency measure extended to ensure companies are not wound up over €10,000 debts

The move comes as thousands of businesses struggle with issues such as supply backlogs and surging energy costs

The Four Courts building in Dublin city centre. Picture: Getty

The government has extended a Covid move to ensure businesses are not wound up over “relatively small” debts.

Previously, under the Companies Act 2014 creditors could issue a statutory demand for €10,000 for individual debts, and €20,000 for aggregate debts.

If the company in debt was then unable to repay, it could be pursued through the courts, and result in a winding up order.

During the pandemic, the government brought in a measure which raised ...