Oireachtas Joint and Select Committees

Wednesday, 31 May 2023

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

General Scheme of the Plan of Action on Collective Redundancies following Insolvency Bill 2023: Discussion

Photo of Marie SherlockMarie Sherlock (Labour) | Oireachtas source

It is perhaps a conversation we need to continue with the Department in terms of setting out greater detail.

It was mentioned that the Companies Act demands that, in return for the privilege of limited liability, directors act in good faith. Perhaps one of the bugbears or features of the Irish system is that we have, I think, either more than 2,000 or 4,000 unlimited companies operating in this country at this time. Access to information for any creditor, let alone workers, is a significant challenge. What is the Department’s view on unlimited companies? Is this something Ms O’Dea believes is a healthy feature of the corporate landscape in this country? Does it need to be changed in future years?

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