Ms Tara Coogan:

I just want to clarify something because there is a bit of a tendency to lump all kinds of insolvencies together.

I appreciate HMV and La Senza are specific types of scenarios. Again, however, in the context of the Duffy Cahill report, there is an asset transfer issue. There are realities when companies decide to withdraw from a jurisdiction. They become insolvent and cease trading. There are different types of insolvency situations but we just need to be clear on that.

The Senator is absolutely correct. There is a recognised ruling that Ireland is in breach of its duties to implement access to the Social Insurance Fund in circumstances where the employer has not formally declared itself insolvent. That is where the employer has not done what it is supposed to do so the employer has gone. It is not a tactical insolvency. I believe one uses a different phrase there. That is, however, a different situation and it is something we are acutely aware of. We have identified a solution and will be addressing it urgently. That is a genuine urgent issue.