John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

The issue will technically be before the courts again in several weeks' time and the Department is not directly involved in this issue. FOLD Ireland is a housing body and has a good record on delivery. The issue is that the construction firm, MDY, has that month-long period to indicate to the High Court judge that it has the facility to turn its financial situation around and to take the necessary measures for refinancing or extra investment. This examinership procedure was introduced in the late 1980s or early 1990s after it had operated for years in Britain and other countries. It has been successful, by and large, because it gives the protection of the courts to companies that are in some difficulty. It ensures they cannot be foreclosed upon while this structure is there. It gives a breathing space to see if they can work their way out the issues. We will know more when it goes before the High Court again.

I accept that is not a hugely satisfactory answer, other than to say the first priority for central government, local government and FOLD Ireland is that contractors will see out their contract and finish the job. We will have to cross the other bridge if that is not the case. However, for now, we are pursuing the first option.