The Company Law Review Group [CLRG] made recommendations which have been accepted by Government, to reform the substantive and procedural requirements of the winding-up regime including liquidations. The recommendations were published as Part A11 of the General Scheme of the Companies Consolidation and Reform Bill which is currently being drafted by the Office of the Parliamentary Counsel.
With the exception of non court procedures such as (i) members voluntary winding-up; (ii) creditors voluntary winding-up; and, (iii) dissolution after a fixed period of time, the role of the court in liquidations is to ensure fairness to the companies members and creditors and it is not clear how an alternative could perform this role with the same legal certainty which attaches to the decisions of a court.
Part A12 of the General Scheme provides for Strike-Off and Restoration by a court and by administrative procedure; however only a court may permit the restoration of a company to the register following liquidation.