Written answers
Thursday, 9 June 2016
Department of Jobs, Enterprise and Innovation
Company Liquidations
Jackie Cahill (Tipperary, Fianna Fail)
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226. To ask the Minister for Jobs, Enterprise and Innovation as to how or what financial set of accounts relevant period and so on the High Court looked at when giving permission to a company (details supplied) to be wound down with a loss of all jobs; and if she will make a statement on the matter. [15274/16]
Jackie Cahill (Tipperary, Fianna Fail)
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227. To ask the Minister for Jobs, Enterprise and Innovation the role that a company (details supplied) was to play when it took over another company (details supplied) as a going concern, when in fact it was winding down the company within six months due to significant losses of €5 million up to June 2015, which was prior to the takeover; and if she will make a statement on the matter. [15275/16]
Jackie Cahill (Tipperary, Fianna Fail)
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228. To ask the Minister for Jobs, Enterprise and Innovation if her Department was aware, through the Industrial Development Agency, of a company's (details supplied) €5 million losses prior to a company's (details supplied) takeover of the company in 2015, as this was stated by a director of a company in the High Court as the reason why the company should be allowed to wind down a company; and if she will make a statement on the matter. [15276/16]
Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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I propose to take Questions Nos. 226 to 228, inclusive, together.
In situations such as this, the legal process for the appointment of a liquidator is fully prescribed in statute and a matter entirely for the Courts. My Department therefore has neither a direct role in proceedings nor any involvement with the legal documentation that may be lodged.
When a company acquires another undertaking in Ireland, the financial details of such transactions – or the corporate strategies of the businesses involved – are not generally shared with my Department or its Agencies. That was also the case in this instance.
On many occasions when company takeovers occur there is a positive outcome for the businesses and employees involved. Unfortunately that was not the result in the case in question. My Department and its Agencies will, however, do the utmost to find new investors for the region and employment opportunities for those who have lost their jobs.
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