Joan Collins (Dublin South Central, People Before Profit Alliance) | Oireachtas source

It seems that a profitable company, with the backing of its directors, went to NAMA to discuss a management buy-out. It appears that as a result of difficulties experienced after that time, it was not possible for the company to exercise that buy-out. There is something wrong with that process, to my mind. Why would a profitable company not be able to complete such a buy-out? I want clarification in that regard. I asked about what will happen to the contracts, conditions and pay relating to these jobs, in the event of the company being bought, because I understand that the TUPE regime should protect these workers and their jobs regardless of who buys the company. It seems strange that a process which was started on foot of a positive development has led to the company now being in difficulty, and possibly being bought by somebody else.

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