Noel Ahern
Question:210 Mr. N. Ahern asked the Minister for Enterprise and Employment the number of liquidations notified and finalised in respect of each of the past five years. [25163/96]
Written Answers. - Company Liquidations.
Noel Ahern
Question:211 Mr. N. Ahern asked the Minister for Enterprise and Employment the number of liquidations which are over three years old and which have not been finalised; if full details of these cases and an analysis by duration of delay can be given; if his attention has been drawn to public concern in some quarters regarding the long delays; and if he will make a statement on the matter. [25164/96]
I propose to take Questions Nos. 210 and 211 together.
In the past, liquidators had been slow to file liquidation documents showing particulars of their acts and dealings as required by the Companies Acts. In October, 1994 the Companies Registration Office issued a letter to all liquidators of companies which were two years or more in arrears in respect of filing statutory returns. Liquidators were requested to file outstanding returns by 31 March 1995. There was a good response to this letter, in general. Liquidators for 1,542 companies requested that the companies be struck off the Registrar under section 311 (5) of the Companies Act, 1963. This strike off procedure was concluded in August 1995.
A small number of liquidators did not reply to the CRO letter of October 1994 and failed to file outstanding liquidation returns. As a result proceedings are being taken and to date two liquidators have been prosecuted and convicted. Another case is pending.
The table below sets out the number of liquidations notifed to the Registrar of Companies from 1991 to 1995. These figures include companies wound up voluntarily and companies wound up by order of the High Court. Figures for 1996 will be available early in the New Year.
Number of Liquidations notified to the Registrar of Companies
|
1991 |
948 |
|
1992 |
746 |
|
1993 |
883 |
|
1994 |
820 |
|
1995 |
777 |
(Source of information: Companies Reports 1991-1995).
It is worth noting that at the end of June 1993 there were 7,770 companies in the process of liquidation. However, by the end of 1995 the total number of companies in the course of liquidation was 5,605.
Statistics relating to companies which finalised liquidation are not readily available. The CRO database as currently constituted does not easily allow an analysis of liquidations as requested by the Deputy. The CRO is in the process of putting in place a new computer system which will facilitate the accessing of such information in the future. In the meantime I have asked the Registrar of Companies to examine whether it is possible to extract additional information and I will inform the Deputy of the outcome.
Following the campaign by the CRO in 1994 it is clear that there is now a greater awareness among liquidators of the need to comply with their obligations under the Companies Acts.