Dáil Éireann debate -
Tuesday, 25 May 1993

Vol. 431 No. 3

Written Answers. - Conduct of Examinerships.

Jim Higgins

Question:

122 Mr. J. Higgins asked the Minister for Enterprise and Employment the number of examinerships instituted under the Companies (Amendment) Act; the number successfully concluded; the number which did not successfully conclude, and when a receiver was called in.

Minister for Enterprise and Employment (Mr. Quinn)

The Deputy will be aware that the appointment of examiners under the terms of the Companies (Amendment) Act, 1990, and the conduct of examinerships are matters under the aegis of the courts. There are requirements in the Act relating to the making of notifications to the registrar of companies at various points in the proceedings. Such notifications are made available in the normal course for public inspection in the Companies Office.

Following is the information sought by the Deputy, based on notifications to the registrar of companies:

Since the commencement of the Act on 29 August 1990, there have been 120 appointments of examiners notified to the Companies Office; 78 court Orders confirming proposals for a compromise or scheme of arrangement have been lodged in the Companies Office. Notifications have been received that nine companies subsequently went into receivership and that 20 companies subsequently went into liquidation. Notifications have been received that three companies subsequently went into receivership and liquidation. Care should be taken in any interpretation of such general statistics as indicating success or otherwise in particular cases.