Gerald Nash (Louth, Labour) | Oireachtas source

On 6 July I submitted a report to the Taoiseach and the Tánaiste to further inform the Government on the issues surrounding the sale and liquidation of Clerys. I also briefed my Government colleagues on the report, a copy of which is available on my Department’s website. It sets out the sequence of events leading up to the closure on 12 June based on the information then available. It also sets out the relevant employment law and company law framework.

The Deputy will be aware that the liquidation of Clerys is in the hands of liquidators under the supervision of the High Court. The High Court was informed at the hearing on 6 July that the liquidators had identified a number of matters which they intended to investigate as part of the liquidation process. I understand the liquidators will report back to the High Court in due course. The liquidators have important duties under company law, including an obligation to provide, within six months of their appointment, a report on the conduct of directors for the Director of Corporate Enforcement and a requirement to make an application to the High Court for the restriction of directors, unless the Director of Corporate Enforcement has relieved them of this requirement.

On the establishment of the Office of the Director of Corporate Enforcement, ODCE, in 2001, the existing functions of the Minister relating to the enforcement of the Companies Acts transferred to the Director of Corporate Enforcement. These functions included the investigation of suspected offences under the Companies Acts and prosecuting detected breaches of the Acts. Neither I nor the Minister, Deputy Richard Bruton, has any investigative function under the Acts. The Director of Corporate Enforcement is independent in the exercise of his statutory functions.

I have been informed by the Department of Social Protection that, with the exception of three pending payments, all former Clerys employees have received their full statutory pay-related entitlements.

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