I propose to take Questions Nos. 191 and 192 together.
I have seen the report in the Sunday Business Post of 1 December, 1996 regarding the sale of Tipperary Crystal. A receiver was appointed on 10 October, 1996, over the assets of the Tipperary Crystal companies, namely, Crystal Designs of Tipperary Limited; Tipperary China, Crystal, Porcelain, Silver and Gold Company Limited and Tipperary Crystal Manufacturing Company (Sales) Limited. The receiver was appointed by Yeoman International, a debenture holder. The receiver is still in place.
I am informed that shortly after his appointment the receiver sought to sell the business. Minority shareholders made an application to the High Court for an injunction to prevent the sale to the purchaser, Asdon Limited. Their application was denied on 21 October, 1996.
About a year prior to the appointment of the receiver, the minority shareholders instituted proceedings against the company under section 205 of the Companies Act, 1963 — remedy for oppression of minority shareholders. After the receiver was appointed they applied to the High Court to join the receiver, the debenture holder and the purchaser in the section 205 proceedings. Their application was refused on 18 November 1996. In addition, on that date an application to set aside the sale was denied by the High Court, although it was held that the matter could be dealt with in the context of the full hearing of the section 205 application.