Micheál Martin (Cork South Central, Fianna Fail)

As I indicated in replies to previous questions, matters arising from the liquidation of the company concerned are currently receiving attention from two of the agencies that operate under the aegis of my Department, the Employment Appeals Tribunal and the Office of the Director of Corporate Enforcement.

The latest position with regard to the involvement of the Employment Appeals Tribunal is that the tribunal commenced its hearing under section 9(3) of the Protection of Employees (Employers' Insolvency) Act 1984 on 21 March and adjourned it until 14 June. The situation regarding the insolvency and redundancy payments schemes will be considered by my Department following a decision by the tribunal.

The position in regard to the involvement of the Office of the Director of Corporate Enforcement remains as described in my previous replies, namely that the liquidator of the company has been temporarily relieved by the director from the obligation to take restriction proceedings in the High Court, pending the receipt of a further report from the liquidator to the director under section 56 of the Company Law Enforcement Act 2001.

Regarding new legislation relating to "phoenix" situations, I draw attention to the changes introduced by Part 5 of the Company Law Enforcement Act 2001, which address problems and issues connected with business failure. Company law is also under continuing review, particularly through the work of the Company Law Review Group.

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