asked the Minister for Communications his plans for the acquisition of Irish Continental Line from the liquidator.
Ceisteanna—Questions. Oral Answers. - Irish Continental Line.
11.
I have no plans for the acquisition of Irish Continental Line.
Arising from the Minister's brief reply which I anticipated, can he say if he foresees the danger of a competitor company purchasing Irish Continental Line and, in the interest of the sacred cow of rationalisation, closing down the whole operation with consequent very serious loss in employment and services?
The Deputy is aware that Irish Continental Line is now under the control of the liquidator and that the decision as to the future of the line rests with him. For many years this line has been profitable and I am confident it has a bright future. When the line is being sold I should be surprised if it is not acquired by someone anxious to continue to operate it.
Has the Minister given any indication to the liquidator to the effect that the Government would like the company to remain in Irish hands, whether by way of private ownership, semi-State ownership or a mixture of State and private ownership?
The liquidator's duty is to the creditors of Irish Shipping Ltd. and I do not think he would be permitted by law to take into account what might be regarded by them as extraneous matters. That is not to say that we are not acutely concerned about our national interest. We are keeping the situation under observation.
Would the Minister be prepared to make the liquidator aware of the statement he has made so that he may have an idea of what the Government's thinking on this matter is? That information would be helpful to him when reaching a decision, which I admit must be a commercial decision, about disposing of the company.
We can hardly expect the liquidator to take into account anything other than the interest of the shareholders.
The two interests could be the same.
We have our duty and that may be different from the duty of the liquidator.
The two could correspond.