Diarmuid Wilson (Fianna Fail) | Oireachtas source

Yesterday morning, my colleague, Senator Paul Coghlan, raised the issue of a long-established business that had been forced into receivership by the Ulster Bank. This morning, I read in a national newspaper about the same happening to another long-established business, Olhausen meat producers, which has been in existence for 126 years. Yesterday morning, 160 workers were informed at 7 a.m. that the plants in Dublin and Lough Egish, County Monaghan, would close with immediate effect because Ulster Bank had appointed receivers to the company. It appointed receivers despite a substantial takeover bid being made by a third party. It is outrageous that Ulster Bank can operate in such a way. It moved in and appointed a receiver with the immediate loss of 130 jobs in Dublin and 30 jobs in Lough Egish, County Monaghan, at a long established and well-respected meat producing company. Such behaviour is unacceptable. I ask the acting Leader to ask the Minister for Jobs, Enterprise and Innovation, Deputy Richard Bruton, the action the he intends to take. If we do not receive a satisfactory answer from Senator Paul Coghlan, I will raise the matter again next week because such behaviour cannot be allowed to continue. This is the second story in two days involving the same bank and it is unacceptable.