Martin Conway (Fine Gael) | Oireachtas source

I too express my sympathies to the young people, and the families of the young people, who lost their lives in California. I also commend the great work done by the Irish consular service. I have had occasion to be in contact with the service over the past number of years and have never found it wanting. I have no doubt the service will not be found wanting at this difficult time either.

I ask the Leader to arrange a debate in due course on the sale of funds to what are known as international vulture capitalists. I want to know what guarantees have been enshrined in legislation to protect workers who happen to work in a business that becomes part of such a portfolio. I refer to portfolios that have been purchased at a knockdown price at a time when this country, its society and its businesses are in distress. What do such capitalists do? They take businesses apart and sell them at an enormous profit. I am not quite sure about the background to the situation at Clerys, but I assume that something along these lines has happened.

When Irish companies, particularly ones that have been controlled and funded by the State - I am thinking of NAMA and IBRC - sell portfolios of investments that include such things as retail shopping centres, when the lives of citizens of this country are on the line, a protocol on how people are to be treated should be written into the sale agreement when the vultures decide to cash in and make enormous profits. I seek a debate on the issue with the Minister for Finance. I also want to know what type of framework or protocol can be put in place to ensure this type of situation does not happen again. What has happened to Clerys is appalling, but it is our responsibility to make sure it does not happen again.