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Dáil Éireann debate -
Tuesday, 7 Apr 1992

Vol. 418 No. 4

Written Answers. - Protection of Haulage Industry.

John Connor

Question:

73 Mr. Connor asked the Minister for Industry and Commerce if his attention has been drawn to the major loss to the transport and haulage industry, arising from the receivership of a company (details supplied) which is part of a pattern of serious damage to industry in recent years due to the high level of business failures; and if he has any proposals under the provisions of the Companies Acts to protect the industry from exposure in the event of other major business failures that are heavily dependent on the haulage business.

Various areas of commercial activity are of course adversely affected by major business failures and it would be inappropriate to distinguish outside the parameters set by existing company law between one such area and another.

I believe that the Companies Acts, 1963-1990, provide a satisfactory framework for the conduct of business activity, including a range of mechanisms and remedies aimed at protecting the interests of all parties involved. It will be appreciated that in many cases there are conflicting interests which cannot be balanced or adjudicated on by the courts and this is envisaged in the Acts. While these Acts are subject to continuing review and may be amended from time to time in the light of experience, I do not consider that specific proposals along the lines suggested by the Deputy would be warranted or appropriate.
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