Phil Hogan
Question:521 Mr. Hogan asked the Minister for Enterprise, Trade and Employment if the liquidator of IFI will ensure the payment of outstanding accounts to a creditor (details supplied). [1258/05]
View answerWednesday, 26 January 2005
Questions (458)
Written answers
The determination of payments due to creditors of IFI is a matter solely for the liquidator. The position of unsecured creditors can only be determined by the liquidator when all the assets of the company have been realised and all liabilities established. In this regard, I understand that the liquidator has made considerable progress in realising the assets of the company and establishing the full extent of its liabilities. The plant and machinery from the main production facilities at Arklow and Cork have been sold and are in the process of being dismantled and removed from the sites by the purchasers. The production sites remain the principle assets yet to be realised. It is understood that the liquidator has received an offer for the Cork site and that discussions are ongoing with the prospective buyer. It is a matter solely for the liquidator to determine whether to accept a particular offer. While the Arklow site has also been on the market for some time, it is expected that interest in it will intensify when the plant and machinery have been removed. As the sites are significant, it is difficult to assess the price that might be achieved for them in due course.