Oireachtas Joint and Select Committees

Wednesday, 6 July 2022

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Pre-legislative Scrutiny of the Companies (Protection of Employees' Rights in Liquidations) Bill 2021: Discussion

Ms Maeve McElwee:

I am suggesting that there is reason for a priority order. I begin by saying that I am not at all an expert in company law. There are priority orders in terms of how a liquidator distributes the assets. I am simply making the point that when you change the priority order in one situation, then there are less assets to be distributed elsewhere. One of those situations may well be that suppliers who are owed moneys as well will have less money and that will then impact on their employees and financial sustainability.