Vol. 428 No. 1
224 Mr. Durkan asked the Minister for Enterprise and Employment the total cost of the administration of PMPA Insurance plc, from 19 October 1983 as provided for under the Insurance (No. 2) Act, 1983; and if he will make a statement on the matter.
The total cost of the administration of Primor plc (formerly PMPA Insurance plc) will not be known until the administration of the company has been completed.
As the Deputy is aware, a levy was introduced in 1984 to fund the deficit in the company. The latest audited accounts of the company for the year ended 31 December, 1991 show a deficit in the balance sheet of £124 million.
I understand that the Administrator expects to complete the administration of the company within two to three years. The Deputy will appreciate, of course, that it is the High Court to which the Administrator is responsible.
