Mr. Conor O'Mahony:

When any company goes into an insolvent liquidation, the liquidator has to report to us. We will review the liquidator's report and any other information available to us in determining whether the directors of that company should face sanction, whether it be restrictions, disqualification or referral to the enforcement side for more serious investigations. We will take all relevant factors into account. If there is evidence that something underhand has been done which appears to us to be irresponsible - there is a lot of jurisprudence which underpins what responsibility and irresponsibility look like - then we will not grant relief in that case, the case will go before the courts and the directors will face restriction. That course of action is open to us but there are things that are possible and permitted under the Companies Acts and not everything that people might be uncomfortable with meets the threshold of every responsibility as defined by the High Court over many years of jurisprudence.