asked the Minister for Industry and Commerce the receipts to the State from the Official Receiver arising from the disposal of the premises and plant of Potez Ltd., Baldonnel, County Dublin.
Ceisteanna—Questions. Oral Answers. - Potez Ltd.
40.
The amount claimed from the liquidator as repayment of grants was £433,150. The dividend payable to the Industrial Development Authority at approximately 13/4d. in the £ was £288,410.
As I stated in reply to a question on 27th May last, the authority waived, out of this dividend, a sum of £118,430 equivalent to a re-equipment grant at the rate of 25 per cent to Roadstone Limited who have acquired the fixed assets at Baldonnel. This sum was arrived at after the authority had taken into account the realisable value of Roadstone's existing premises and disposable equipment.
In addition to the waiver of £118,430 in favour of Roadstone Limited, a further waiver from the State dividend to the extent of £5,000 was made so that small creditors might be paid in full.
This leaves a sum due to the authority of £164,980, of which £41,058 has been received to-date. The balance will be payable by Roadstone Limited in three instalments between August, 1971, and August, 1973, together with interest on the sums outstanding.
Would the Minister make available to the House any further details in relation to this rather complex transaction between the IDA and Roadstone? Is the Minister satisfied that the net amount received by the State was all that could possibly have been obtained from that particular situation?
I am.
Fully satisfied?
I would be really fully satisfied if I could get it all. I was asked whether I was reasonably satisfied that all possible money had been retrieved.
Would the Minister say that Roadstone did not do too badly out of it all?
That is a separate question.