asked the Minister for Industry and Commerce if he will state whether any companies or firms assisted under the Trade Loans (Guarantee) Acts have been wound up; if so, whether he will state the names of the concerns affected, the amount of their capital, the nature of the arrangement made with their creditors, and the loss incurred by the State in each case.
Ceisteanna—Questions. Oral Answers. - Assistance Under Trade Loans (Guarantee) Acts.
In cases of default under the Trade Loans (Guarantee) Acts, the Minister takes steps to have a receiver appointed but the receiver has no power to wind-up a company as either the shareholders or the creditors must proceed to have this done by a liquidator. It may be pointed out, however, that, in accordance with the provisions of Section 6 of the Act of 1924, the Minister lays before the Oireachtas within one month after the 31st day of March in each year an account up to that date of the total sums which have been issued out of the Central Fund under the Act and of the total sums which have been paid into the Exchequer in repayment of sums so issued.