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
Matt Shanahan (Waterford, Independent)
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I have another question, on the scheme of creditors. The Minister of State said the decision is made based on the quantum of money. If 51% of the money is to support examinership, that decides the position on the remaining creditors. Has the Minister of State given any cognisance to where a large company that can afford to take the hit might take the debt write-down on the basis of wanting the scheme to go one way, which might impact very negatively on the other creditors?