Vol. 545 No. 1
142 Mr. Dennehy asked the Minister for Defence, further to Parliamentary Question No. 165 of 13 November 2001, the lands which have been leased to a company (details supplied) in County Cork; the way in which these leases are affected by the liquidation of that company; the market value of the land; and if he will make a statement on the matter. [29943/01]
By a deed of surrender and lease dated 22 May 1996 and made between the Minister for Finance of the first part, the Minister for the Marine of the second part and Irish Steel Limited of the third part, the property held by Irish Steel Limited on Haulbowline Island was demised to the company for a term of 35 years. Irish Steel was subsequently sold and the company's name changed to Irish ISPAT Limited. The area covered by the lease amounts to approximately 16.75 hectares. The lease interest in the lands now rests with the liquidator who is responsible for the associated lease payments. The liquidator may seek to assign the lease to a third party. However, pursuant to the terms of the lease, the consent of the Minister for Finance and the Minister for Marine and Natural Resources is required. Alternatively the liquidator may surrender the lease to the Minister for Finance and the Minister for the Marine and Natural Resources.
