Vol. 486 No. 1
176 Mr. Haughey asked the Tánaiste and Minister for Enterprise, Trade and Employment if she will appoint an official from her Department to examine the activities of a company (details supplied) following their appointment of a receiver to a company (details supplied); whether this receiver was properly appointed; whether this company was owed money by the company in receivership; and if she will make a statement on the matter. [1662/98]
I understand that a receiver was appointed to Squash Ireland Ltd. on foot of a debenture held by Lower Mount Ltd. , previously known as Lower Mount Nominees Ltd. Where there is a charge or contract between the company and the lender, the entitlement of the lender to appoint a receiver is largely governed by the contractual terms. The creditors of companies in receivership may enforce their rights under the Companies Acts, 1963-1990 by applying directly to the High Court.
Our Department has not received any information which would warrant my considering the appointment of an authorised officer to Lower Mount Ltd. under section 19 of the Companies Act, 1990.
