Tony McLoughlin (Sligo-North Leitrim, Fine Gael)
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309. To ask the Minister for Jobs, Enterprise and Innovation his views on whether there is need for a review or a change in current consumer protection legislation following the decision to put a company (details supplied) into examinership resulting in gift vouchers in that company's name not currently been honoured by its stores here. [3010/13]

Richard Bruton (Dublin North Central, Fine Gael)
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My thoughts are both with the workers across the country as they face this uncertain situation and the consumers who have been unable to redeem gift vouchers. My understanding is that this situation has arisen due to difficulties across its operations in the UK and Ireland, caused by dramatic changes in the way music and films are bought and sold. As it operates in the domestic market, this company is not supported by the State's enterprise agencies. Clearly, my hope is that jobs can be saved.

Consumers who purchased vouchers using payment cards from companies that subsequently go out of business may be able to recover the amount spent on the gift voucher under the charge back rule. Such consumers should contact their card issuer. With a view to prioritising the interests of taxpayers and employees of insolvent companies, Irish company law provides a ranking of creditors, which determines the order in which different types of creditors are paid in the event of an insolvency. Holders of gift vouchers in an insolvency situation are considered unsecured creditors, and rank after other creditors such as the Revenue on behalf of the taxpayer and employees. I consider that this priority accorded to taxpayers and employees is correct, and as such I have no plans currently to alter this ranking.