Written answers
Wednesday, 4 April 2007
Department of Enterprise, Trade and Employment
Company Closures
11:00 pm
Billy Timmins (Wicklow, Fine Gael)
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Question 203: To ask the Minister for Enterprise, Trade and Employment the situation regarding a company (details supplied) in County Wicklow; if it is in liquidation; the situation with respect to individuals who are owed money by the company; and if he will make a statement on the matter. [13221/07]
Michael Ahern (Cork East, Fianna Fail)
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While I have no direct function in relation to the matter raised by the Deputy, I understand that the High Court appointed a provisional liquidator to the company concerned on the 23rd of March 2007. The liquidator is an officer of the Court and will report back to the Court.
Under the Company Law Enforcement Act 2001, liquidators have certain duties to report to the Director of Corporate Enforcement. For example, where a company is insolvent, liquidators are obliged to provide a report to the Director on the conduct of the company's directors. They are further obliged to make application to the High Court for the restriction of each of the company's directors unless specifically relieved of that obligation by the Director of Corporate Enforcement. The Director is independent in the performance of his statutory duties.
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