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

We can certainly look into that. It makes logical sense. Part of the directors and creditors agreeing a plan will be around costs and viability. If the costs are excessive, it will not be possible to use this system and save the company, so it is in everyone's interest that the costs are manageable. The Deputy is right that it can be expensive, which we want to avoid. We will track and monitor that.

We have engagement from all stakeholders on this and we can continue that to see how to use the process to its best ability, once we get it through the Houses with Members' support in the weeks and months ahead.

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