Vol. 486 No. 1
501 Mr. Haughey asked the Minister for Finance the amount of tax, if any, which is owed to the Revenue Commissioners by a company (details supplied) which is currently in receivership; the way in which the Revenue Commissioners intend to recover this money; and if he will make a statement on the matter. [1527/98]
It is not clear on whose behalf the Deputy is seeking this information but as most of the facts are already in the public arena, the Revenue Commissioners have indicated that according to their records, the amount of tax outstanding in the case referred to is in the order of £250,000.
The Commissioners have been concerned about the outstanding liabilities for some time and have been maintaining ongoing pressure on the company to come to an acceptable arrangement to deal with the matter. A judgment was registered against the company. More recently, in the absence of satisfactory proposals to deal with the debt and to prevent the debt increasing further, a letter in accordance with section 214 of the Companies Acts was delivered with a view to liquidation of the company on the basis that it was unable to pay its debts.
A receiver was subsequently appointed to the company. In addition, another creditor has made application to the court for appointment of a liquidator to the company. The Commissioners will not oppose such appointment. In accordance with company law, the receiver — and the liquidator, if appointed by the court — will be responsible for the realisation of the assets of the company and the distribution of proceeds to creditors, including Revenue. The success, or otherwise, in the sale of the assets will determine the amount available for distribution. Revenue will be in close touch with the receiver and liquidator in the matter.
