John Perry (Sligo-North Leitrim, Fine Gael) | Oireachtas source

I am talking about existing legislation. We could not introduce new legislation that would be retrospective. There is confusion with regard to whether gift vouchers should be honoured since the company went into receivership on 15 January. It is important to put on the record that with regard to HMV Ireland, the National Consumer Agency issued a public statement at 9.15 a.m. on 16 January in which it noted that HMV Ireland was a separate entity and was not covered by the administration of the UK company. The agency queried the basis on which the Irish company refused to honour consumers' gift vouchers, given the Irish company was continuing to trade at that stage and was not under the protection of the administration or examinership process. The agency called on the company to honour the customer gift vouchers. HMV Ireland subsequently went into receivership on 16 January.

The issue of honouring gift vouchers is a matter that should be addressed to the receiver, who has stated that it is his intention to institute an assessment of the viability of the Irish stores and to make every effort to secure a purchaser for the store. It is disappointing that a gift voucher is now like an unsecured creditor. However, I hope the receiver appointed will succeed in his intention to sell the store as a going concern. Deputy Higgins made the point that this will be difficult due to the nature of the business and the change in technology relating to it. It is a difficult business to be in and it is not as a result of austerity that the business has trading difficulties.

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