The number of companies going into liquidation looks set to increase significantly this year. In its annual review for 2008 the Office of the Director of Corporate Enforcement is predicting that this year the country will see close to double the number of liquidations when compared with last year. The ODCE, which policies company law, predicts that due to the declining performance of the national economy we should see close to double the number of liquidations this year. The review also reveals a fourfold increase, to €134m, in the amount of excessive directors' loans, not taking into account the loans to former Anglo Irish Bank boss Sean Fitzpatrick. Last year, auditors reported 161 cases to the Office where directors had used company funds contrary to the provisions of the Companies Act. Director loans seem to be most prevalent in the construction and property development sectors. Meanwhile, there's been a 22% increase in the number of cases of alleged breaches of the Companies Acts and a total of 32 convictions were secured by the ODCE last year.