Oireachtas Joint and Select Committees

Tuesday, 15 June 2021

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

General Scheme of the Companies (Small Company Administrative Rescue Process) Bill 2021: Department of Enterprise, Trade and Employment

Photo of Damien EnglishDamien English (Meath West, Fine Gael) | Oireachtas source

I will deal with a couple of the issues the Deputy raised Ms Keane will address the issue of the register. To respond in reverse order, the main aim of these structured resettlements is to assist companies with a sound business model and a viable future, as the Deputy identified. It is generally their legacy debts that are the difficulty. The process of putting the rescue plan in place should deal with ongoing financial costs and highlight where they are part of the plan or access to finance is key to making the plan. Often, companies in this position have a bright future from a trading point of view if they have time to deal with legacy debts. That was the planning process which the Deputy will be familiar with. What we could do----

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