Brendan Griffin (Kerry, Fine Gael)
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194. To ask the Minister for Enterprise, Trade and Employment further to Parliamentary Question No. 83 of 19 January 2022, the progress that has been made on the review of eligibility for the insolvency payment scheme; and if he will make a statement on the matter. [30921/22]

Damien English (Meath West, Fine Gael)
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My officials are examining the potential policy and legislative options to address this issue.

As previously advised there are a number of complex issues to be addressed as part of this process. It is necessary to develop solutions which cut across company and bankruptcy law and the manner in which insolvency can be verified. It is also important to find a solution that provides employees with the greatest level of protection while also safeguarding the Social Insurance Fund.

My officials have commenced engagement with the relevant internal and external stakeholders. Consultations are ongoing in order to progress the development of a mechanism through which a competent authority may determine that a state of insolvency arises, without requiring a formal wind-up process, and that monies due to employees may be claimed by them from the Social Insurance Fund.