Michelle Mulherin (Mayo, Fine Gael) | Oireachtas source

I understand the nature of examinership. With all due respect, NAMA took on a healthy and profitable company. The company got into the difficulties that required it to go into examinership on NAMA's watch. I think questions need to be asked about the way NAMA is doing its business. Companies that do not have problems are encountering problems when they come under the NAMA umbrella. That is the taxpayer's concern. These employees are concerned about their jobs. The Minister did not mention their jobs. I asked the Minister for Finance about the level of priority that NAMA gives to the retention of jobs when businesses are being sold as going concerns. He assured me in his response that NAMA gives a high priority to the preservation of jobs in any business that has a loan with the agency. There is no evidence of that here.

It is crucial that the management buy-out should proceed. The company would not have gone into freefall if the notice of decision that was issued had been proceeded with at the time. Much of the blame for the fact that it has gone into freefall lies with NAMA. I believe it should be challenged. I am taking this up with the Minister for Finance. The Minister, Deputy Bruton, is responsible for the issue of jobs. I understand he is working night and day to try to create jobs. In this instance, jobs are under threat in the west, where jobs are hard to come by. We need more action. The reality of the promise set out in the response I received from the Minister for Finance needs to come into play to protect the jobs of the Elverys Sports employees.

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