Seanad debates
Wednesday, 29 April 2009
Social Welfare and Pensions Bill 2009: Committee Stage
2:00 pm
Dominic Hannigan (Labour)
I move amendment No. 16:
In page 30, subsection (17)(d), line 17, after "1984" to insert the following:
"or where the liabilities of the employer exceed its assets".
This amendment returns to the issue of insolvency and the definition of insolvency. We want that widened to include the position where the liabilities of the employer exceed its assets. That is currently the case with SR Technics. It is in a position whereby it could be some years before it goes into liquidation because there are outstanding issues. It will not happen today or tomorrow and it may not even go into liquidation but it is clearly the case that its liabilities exceed its assets. I have had conversations with workers in SR Technics and am aware they appreciate the efforts the Minister and the Department have gone to recently on these issues. In recognition of that they hope she will be able to see fit to grant this change but they are asking for the specific wording to be included so that they, too, can benefit from this measure.
No comments