Enda Kenny (Mayo, Fine Gael)
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Question 428: To ask the Minister for Enterprise, Trade and Employment if he has met with farmers who are owed money following the collapse of a company (details supplied); if he has considered proposals to ensure that all creditors of the plant will be paid the moneys owed; and if he will make a statement on the matter. [12864/07]

Michael Ahern (Cork East, Fianna Fail)
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As the matter is in the hands of a High Court appointed liquidator I have not met with the farmers or considered any proposals to ensure that creditors will be paid.

A liquidator was appointed in January 2002 and in accordance with the obligations set out in section 56(1) of the Company Law Enforcement Act 2001, the liquidator subsequently submitted a report to the Office of the Director of Corporate Enforcement. As relief was not granted by that Office, the liquidator, in accordance with section 56(2), made an application to the Court under section 150 of the Companies Act 1990 to have the directors restricted.

The judgment of Ms Justice Finlay Geoghegan was delivered on 20 July 2004 and the Court determined that all four directors should be restricted for a period of five years. In the case of one director a stay of execution applies to the restriction order pending the outcome of his appeal to the Supreme Court which is still awaited.

The appointment of a liquidator in January 2002 was preceded by the appointment of a receiver by Anglo Irish Bank PLC on 10 October 2001 who disposed of the principal assets of the company. As the company was insolvent, there were insufficient assets available to pay off all creditors. I understand that the latest liquidators report registered with the Companies Registration Office was in December 2006. I have no further information and have no function here as the matter is in the hands of a court appointed liquidator.