Dáil Éireann Debate, Wednesday - 5 May 2004
77 Mr. Timmins asked the Tánaiste and Minister for Enterprise, Trade and Employment the situation with respect to the liquidation of IFI at Arklow, County Wicklow; if all the creditors have been paid; and if she will make a statement on the matter. [13008/04]
View answerI understand the liquidation is progressing in an orderly and efficient manner and that considerable progress has been made in the realisation of the company's assets. However, while the company's principle properties at Arklow and Marino Point have been placed on the market, I am advised that it may take some time to sell them.
I also understand that the company's obligations to secured creditors have now been settled in full while payments to preferred creditors, which would include some amounts due to former employees, have been or are in the course of being made. Unfortunately, it is unlikely that any payments will be made to unsecured creditors until the main property assets are sold, which I understand could take some time.
