Gerald Nash (Louth, Labour) | Oireachtas source

Directors have responsibilities to their employees and it is questionable in this case whether these duties have been fulfilled, but that is not something we can settle here. There are very clear provisions in company law. I refer directly to sections 599 and 600. These provisions, taken together, refer to situations where a related company may be required, for example, to contribute to meeting the debts of a company which is being wound up. They refer also to the pooling of assets of a related company or companies. The House will be aware that this provision in the Companies Act 2014, originally included in section 118 of the Companies Act 1990, has yet to be tested. I have advised the Tánaiste directly that I believe it would be in the interests of the taxpayer and addressing the overall issues in this matter that the Department of Social Protection consider taking a place on the committee of inspection to be established by the High Court in the context of the liquidation and the winding up hearing. I have referred that matter directly to the Tánaiste. I believe advice is being taken in that regard and that the Tánaiste is taking additional advice on other matters that she could potentially pursue under company law.

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