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Dáil Éireann debate -
Tuesday, 15 Oct 2002

Vol. 555 No. 2

Adjournment Debate. - Trade Creditors

Martin Ferris

Question:

145 Mr. Ferris asked the Tánaiste and Minister for Enterprise, Trade and Employment if she will comment upon the ongoing failure to pay the farmers who are owed money from a company (details supplied). [18270/02]

I understand that the company in question ceased trading in 2001 and that a liquidator was appointed by the High Court on 29 January 2002. Farmers rank with other unsecured trade creditors.

In 1994, the then company law review group specifically considered the position of farmer creditors but found no basis for treating farmer creditors more favourably than other unsecured trade creditors. The group recommended that farmers should look at insurance or bonding as a possible protection against a processor going out of business.

The area of preferential creditors is currently being re-examined by the statutory company law review group. The review group would welcome submissions from interested parties on this issue. Submissions can be addressed to the Secretary, Company Law Review Group, Department of Enterprise, Trade and Employment, Earlsfort Centre, Lower Hatch Street, Dublin 2, or can be made online at www.clrg.org.

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