Results 1-20 of 1,022,514 for in 'Dáil debates' OR in 'Committee meetings' (speaker:Ciarán Cuffe OR speaker:David Stanton OR speaker:Roderic O'Gorman OR speaker:Matt Shanahan)

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

Matt Shanahan: Ms Marray said 11,000 customers have not engaged. She also referred to those customers whose debt is less than €5,000. Was the figure 60,000 or 6,000?

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)

Matt Shanahan: I thank the witnesses. I will address the Department first on SCARP. The committee looked for such a process and it is good to see it up and running and obviously rescuing companies. As for the survival rate, it is important that the Department collate data to show how companies are performing on the other side of this process. The Department and Revenue are very close to and understand...

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

Matt Shanahan: The reason I asked the question is that I have a perception, let us say, that the Department at times does not sufficiently understand what is going on in small and micro-businesses in terms of the challenges. If it does not understand why a company is coming into SCARP, I suggest that is something it needs to understand. It is not enough to say that a practitioner has brought the case to...

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

Matt Shanahan: My point is that it is important the Department has a good handle on that because it generally liaises with the local enterprise offices. If I am coming to a LEO with a business plan and talking to a LEO adviser, it would be helpful if the LEO adviser had some publication or otherwise from the Department, which said it was seeing significant challenges in the sector that were sector wide as...

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

Matt Shanahan: They have all availed of the warehouse scheme and have not come to Revenue yet, so it is obvious they are in trouble if they cannot engage on €5,000. The next question is around what do you do. If Revenue puts them out of business, there is a cost, potentially, in employment. There is also the question of understanding. The non-payment of debt is a big problem in the small...

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)

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...