Oireachtas Joint and Select Committees
Thursday, 18 October 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Governance and Regulation of Receivers: Discussion
9:30 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
Mr. McKenna said it "is being dealt with". We will not move on from that. I will give Mr. McKenna an example. A receiver appointed in the dead of night goes in to change the locks on a premises. The premises is a public house somewhere in the State. The individual who was operating it was renting the premises from a landlord and was meeting his or her payments on a monthly basis. The individual's contract was fine and secure. However, that individual is completely locked out of the property. All of his or her investments - life savings that have been thrown into the business - are gone because the place was closed down overnight and the individual has no access to it. The firm appointed is usually a reputable group of accountants, but it is not the accountants who are out changing locks or sitting inside playing cards and so on, for example. Another group of people are employed to do this. The individual has no access to the building. The company closes and jobs are lost as a result of that receivership.
Mr. McKenna said that tenants' rights were being protected. What changes have happened or will happen to ensure that people who are abiding by their contracts with their landlords and whose landlords' premises then go into receivership will not have their businesses disrupted as a result?
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