Leo Varadkar (Dublin West, Fine Gael)
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Question 375: To ask the Minister for Enterprise, Trade and Employment if consideration has been given to the privatisation of Nítrigin Éireann Teoranta; and if he will make a statement on the matter. [6200/08]

Micheál Martin (Cork South Central, Fianna Fail)
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Since 1987, on the formation of Irish Fertilizer Industries Limited (IFI), a joint venture with ICI, Nitrigin Eireann Teoranta (NET) has acted as a holding company. More recently, NET's primary role following the liquidation of IFI in 2002 has been to monitor the progress of that liquidation in the context of NET's claims on the liquidation.

As mentioned in my recent response to the Deputy, (PQ No. 5332 refers), following the pay-out of the last substantial dividend to unsecured creditors during 2007 by the liquidator of IFI, it became clear that there would be no funds remaining in the liquidation to meet any liabilities to NET. NET and ICI had previously agreed that any liabilities to them should be subordinated in favour of other unsecured creditors. As overall unsecured creditors of IFI received 47.5% of their claims, there was no longer any meaningful role for NET. As a consequence of this, measures were taken on 20 December 2007 to wind up NET as a members voluntary liquidation i.e. a solvent liquidation.

The liquidator is currently carrying out the liquidation process. Given the absence of any business activity, privatisation of NET was not relevant.

Leo Varadkar (Dublin West, Fine Gael)
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Question 376: To ask the Minister for Enterprise, Trade and Employment if consideration has been given to the privatisation of Arramara Teoranta; and if he will make a statement on the matter. [6201/08]

Micheál Martin (Cork South Central, Fianna Fail)
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Arramara Teoranta is a client company of Udaras na Gaeltachta and as such I have no responsibility in this matter.