Dáil Éireann debate -
Thursday, 3 May 2001

Vol. 535 No. 3

Written Answers - State Inquiries.

Seymour Crawford

Question:

31 Mr. Crawford asked the Tánaiste and Minister for Enterprise, Trade and Employment the position regarding the inquiries and inspections carried out in her Department; and when she expects these to be completed. [12423/01]

Paul Bradford

Question:

34 Mr. Bradford asked the Tánaiste and Minister for Enterprise, Trade and Employment the time frame within which she expects to complete the various investigations ongoing in her Department; and if she will make a statement in the form of an update on the matter. [12425/01]

Michael Bell

Question:

37 Mr. Bell asked the Tánaiste and Minister for Enterprise, Trade and Employment the position regarding each of the inquiries being carried out by or on behalf of her Department; if she will give a projected date for the conclusion of each such investigation; the inquiries in respect of which reports have been referred to the Director of Public Prosecutions; and if she will make a statement on the matter. [12181/01]

Tánaiste and Minister for Enterprise, Trade and Employment (Ms Harney)

I propose to take Questions Nos. 31, 34 and 37 together.

Five examinations of company books and documents are ongoing under section 19 of the Companies Act, 1990. The companies involved are Celtic Helicopters Limited, College Trustees Limited, Guinness and Mahon, Ireland, Limited, Hamilton Ross Co. Limited. and Kentford Securities Limited. The examinations of Celtic Helicopters Limited. and Kentford Securities Limited are well advanced, and I expect to receive reports on these companies in the coming months.

Reports on Bula Resources, Holdings, plc, Garuda Limited and National Irish Bank Financial Services Limited are with the Director of Public Prosecutions for consideration.

In the case of Bula Resources, Holdings, plc I have decided, based on legal advice received, not to proceed with summary prosecutions against the directors and/or the company for suspected breaches of the Companies Acts identified in the report. I have recently referred the report to the Criminal Assets Bureau for such action as is deemed appropriate and have also referred it to the Company Law Review Group for consideration of certain matters arising out of the report.

Last July the High Court quashed my decision to examine the books and documents of Dunnes Stores Ireland Company and Dunnes Stores, ILAC Centre, Limited. An appeal has been lodged on my behalf with the Supreme Court and will be heard on 2 July, 2001.

Three High Court inquiries are being undertaken into National Irish Bank, Limited, NIB, and National Irish Bank Financial Services Limited and Ansbacher, Cayman, Limited. The two NIB-related inquiries are expected to conclude with a report to the High Court.

The High Court Inquiry into Ansbacher, Cayman, Limited, is continuing its work. The four inspectors were recently represented at a hearing in the Cayman Islands, where they supported the application by Ansbacher, Cayman, Limited to the Court for leave to provide the Inspectors with certain information. The decision of the Chief Justice of the Cayman Islands on the matter is currently pending. Subject to the completion of all current and potential future legal proceedings, they hope to have their final report completed and lodged with the High Court by the end of 2001. Some 29 summonses have been issued against Faxhill Homes Limited and its directors in respect of various breaches of the Companies Acts. The defendants have pleaded guilty to three offences under section 91, register of debenture holders, of the Companies Act, 1963. The case will resume in Naas District Court on 21 May next.