DCC 148/2005, 365/2005

This case involved the liability of heirs for the liabilities of what had been a limited company but prior to the death of the previous owner all the shares had transferred into his hands. The case also looked at the status of an expert report where notification procedures had not been followed by the expert

Key Legal Questions

- What are the rules governing the transformation of a company's status by its sale or otherwise, if it is transformed into another form or status?

- What are the consequences of limitation, by events, if all a company's shareholding capacity is in the hands of one partner only?

- Does an heir (or purchaser) of a personal company inherit its liabilities too?

- What are the rules governing the inheritance of a personal company's liability?

Background Facts

The Plaintiff, a bank, brought forward proceedings against a deceased former owner of a personal company's estate.