Vol. 548 No. 2
90 Mr. O'Shea asked the Tánaiste and Minister for Enterprise, Trade and Employment further to Parliamentary Question No. 131 of 5 February 2002 the discussions she has had with the provisional liquidators of a company (details supplied) regarding settlement of claims of Irish companies including hotels and others; and if she will make a statement on the matter. [4328/02]
Independent Insurance Company Limited is a UK authorised insurer currently in provisional liquidation. The liquidation process will be dealt with under UK law. Irish policyholders, including hoteliers, with claims outstanding against IICL are creditors of that insurance company and should pursue their case with the provisional liquidators. Unlike creditors of IICL, my Department has no standing in relation to the liquidation process in the UK. Our discussions with the provisional liquidators were aimed at obtaining information in relation to the extent of claims from Irish policyholders and on the liquidation process itself. As I indicated in reply to an earlier parliamentary question, I appreciate the difficulties being faced by IICL policyholders. However, it would not be acceptable to burden Irish taxpayers with the inevitable cost that would be involved in meeting insurance claims, resulting from the failure of this UK company.
