Shane Ross (Dublin South, Independent)
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282. To ask the Minister for Jobs, Enterprise and Innovation the standard procedure of Enterprise Ireland for investigating claims of fraud, wherein State funds have been invested and lost; and if he will make a statement on the matter. [29871/15]

Richard Bruton (Dublin North Central, Fine Gael)
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Enterprise Ireland regards allegations of wrongdoing in companies in which it holds shares (or to which it has provided grants under an existing grant agreement) with the utmost seriousness.

There are provisions in Enterprise Ireland’s standard legal agreements which oblige a company in which Enterprise Ireland currently holds shares (or in respect of which there is a current grant agreement) to provide any information regarding its activities sought by Enterprise Ireland or its Agents.

The Audit Committee of Enterprise Ireland would be kept fully informed of any such allegations about a company and the subsequent investigation.

Shane Ross (Dublin South, Independent)
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283. To ask the Minister for Jobs, Enterprise and Innovation if Enterprise Ireland has undertaken an investigation into claims of fraud at a limited liability Irish company (details supplied); and if he will make a statement on the matter. [29872/15]

Richard Bruton (Dublin North Central, Fine Gael)
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I have consulted Enterprise Ireland in regard to the issues raised. However all of those matters are subject to the provisions of the Companies Acts and are therefore matters of law between the people concerned and others such as Directors and Shareholders.

In particular, the examinership process for the case concerned is a matter for the High Court and I have no role in this regard.

I should also point out that Enterprise Ireland has no role in the management of companies which it supports. This is a matter for the Directors of such companies. In addition, Enterprise Ireland has no role in relation to disputes between shareholders and/or former shareholders of companies in which it had invested.

There are provisions in Enterprise Ireland’s standard legal agreements which oblige a company in which Enterprise Ireland currently holds shares (or in respect of which there is a current grant agreement) to provide any information regarding its activities sought by Enterprise Ireland or its Agents.

However in this instance, the allegation of fraud was only raised after Enterprise Ireland’s shares had been expunged as part of the examinership process.