asked the Minister for Transport and Power whether, with reference to a reply of 29th June last relating to the financial support given to a company providing facilities for tourists, the steps which he has arranged to take will permit business of the company to continue with a prospect of all creditors being paid in full.
Ceisteanna—Questions. Oral Answers. - Tourist Company Creditors.
6.
A Receiver was appointed in this case on 1st July. The preliminary assessment of the affairs of the company has commenced. The Receiver will ascertain whether the business of the company can be continued and examine the prospects of all creditors being paid in full.
The Minister will be aware that a number of private creditors took proceedings, obtained judgments and sent these judgments to the county registrar for execution and then found that they were withdrawn on the direction of the Minister. Will the Minister take steps to ensure that the interests of private investors in companies who receive State guarantees will not be jeopardised in future by such actions?
As the Deputy will be aware, obligations to the State are the first to be discharged in these instances. I do not want to interfere with the work of the Receiver who will operate in the usual way and see what can be done.