Fidelma Healy Eames (Fine Gael)

I welcome the Minister. I want to confine my remarks to the workers, their sit-in and their fears about not getting statutory redundancy. I also want to refer to the actions of Bank of Ireland. I have one or two questions.

I understand it was largely State money that was lodged in the Bank of Ireland account and that the money, in an unprecedented manner, was raided by Bank of Ireland without any notice to the directors. I am a former director of Galway Airport myself and I always recall the prudence and exactitude with which business was done there to adhere to corporate governance and I understand the Revenue Commissioners are paid up to date.

I would like the Minister to comment on the behaviour of Bank of Ireland in this case and what action he thinks we should take as a Government given our reputation abroad is very important. We are trying to attract investors. We were ranked in the top ten of places to do business in the last week but this would not instil confidence in anyone thinking of investing here. This is one of our pillar banks in which we have a stake.

I can confirm that local businesses are very concerned about this. One gentleman spoke to me about having an up to date loan and working capital in another account. He has 43 staff and he says if the bank moved like this on him, he would have to make those staff redundant.

Can the Minister of State confirm the workers will get their statutory redundancy? In what ranking are they as preferential creditors? I understand the Revenue Commissioners have been paid up to date so are the workers next in line or are they guaranteed their money?