Results 1-20 of 1,026,910 for in 'Dáil debates' OR (speaker:Ciarán Cuffe OR speaker:David Stanton OR speaker:Roderic O'Gorman OR speaker:Richard Bruton) in 'Committee meetings'

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: I welcome the witnesses and thank them for their presentation and forwarding on their notes in advance of the meeting. Following on from the comments of Deputy O'Reilly, I note there have been 62 SCARP applications to date. Obviously, some small companies have availed of that, as stated in the notes. Revenue said it is still working on some of those cases. Have the 62 cases been finalised...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: A figure of €5.3 million was mentioned in respect of dividends, as against €21.5 million. Where have those figures come from?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: What is happening with the balance of the 62 cases?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: We found out that 663 corporate insolvencies were recorded in Ireland in 2023, according to a report from, I understand, Deloitte. I have a note that there have been 214 so far this year. Those numbers seem quite large compared with the number of companies entering SCARP. Is it Ms O'Dea's view that more companies should avail of SCARP, looking at the large number of insolvencies? Does Ms...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: Maybe as awareness grows more companies will avail of SCARP. Are there many people who inquire about SCARP and then do not go forward with it?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: I thank Ms O'Dea. Will Mr. Purtill outline the policy of the Revenue Commissioners with respect to when it agrees to write down debt? Is there a clear set of guidelines companies can go to?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: There is no template or policy people can go to and get some guidance as to whether or not they would be-----

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: I have a question about habitual liquidations and examinerships. Is that an issue we should be concerned about? Is it something the witnesses have come across frequently in their work? I mean people repeating or the frequency.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: I thank the witnesses.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Richard Bruton: I would like to get some details. Could Ms O'Dea give us the sectors involved in the 62 cases, and the costs in terms of the completed process compared with, let us say, an examinership? Is it too early to know the survival rate of the 40 companies that have completed the process? Do we know how many, if any, were contested and had to go to court before they were confirmed? I would like...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Richard Bruton: What of recourse to the courts?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Richard Bruton: One can refuse it and then this-----

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Richard Bruton: Would someone from Revenue like to comment on the recovery rate for Revenue versus the rest?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: The Deputy's time is up. We can get a final response if anyone wants to respond to those points.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: Who wants to take that?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: Do the witnesses want to come back to us on it?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: We have the Bill on co-operatives going through as well, which gives us an opportunity to discuss that issue. I agree that there is scope there. Does anyone else wish to come in with another question?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Richard Bruton: I will ask a question very quickly. Does Dr. Coates have the overall figures for the number of businesses that are born and die each year? I think it runs to several thousand, if not tens of thousands. Against that background, while SCARP has clearly hit an excellent point in that it is much cheaper than an examinership and it is working well, are there other international examples of...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: Who would like to respond?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: We will get that information. I will now ask one or two more questions. Of the insolvencies that occurred last year – we heard earlier there were roughly 663 and I saw figures in other places suggesting there were more – how many are micro and small businesses that would fit into the SCARP regime? Could we get that information from the witnesses at some stage? I think 62...