Dáil Éireann Debate, Thursday - 7 October 2004
45 Mr. Timmins asked the Minister for Enterprise, Trade and Employment the stage the liquidation of IFI is at; if the creditors have been paid; if not, when they will be paid; and if he will make a statement on the matter. [23617/04]
View answerI understand that the liquidator has made considerable progress in realising the assets of the company and establishing the full extent of its liabilities. At this stage, the plant and machinery at the main production facilities at Arklow and Cork have been sold and is in the process of being dismantled and removed from the sites by the purchasers. The production sites themselves remain the principal assets yet to be realised and while they have been on the market for some time, I understand that interest in the sites is expected to intensify once the plant and machinery has been removed.
I also understand that all secured and preferential creditors have been or are in the process of being paid. However, the position of unsecured creditors can only be determined when the remaining assets, including the sites, have been realised and all liabilities established.
