Wednesday, 18 July 2012

Questions (139)

Michael Creed

Question:

137 Deputy Michael Creed asked the Minister for Jobs, Enterprise and Innovation the level of State funding provided by Industrial Development Agencies under the aegis of his Department to a company (details supplied); if this company has been recently audited; if he is satisfied that the State’s investment in this company is secure; and if he will make a statement on the matter. [35860/12]

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Written answers (Question to Minister for Jobs, Enterprise and Innovation)

I understand from Enterprise Ireland that, in 2010, the agency provided financial support of €440,000 in the form of repayable preference shares to the company concerned. In addition, in 2008, the agency provided an eBusiness management initiative grant of €19,775 for the development of the company's website and a trade fair grant of €5,250.

The company have filed audited accounts for 2010 with its 2011 Annual Return to the Companies Registration Office. The 2012 Annual Return is not due until later this year.

The agency is in regular contact with the company and has offered to provide any assistance to the company that it can in order to assist the business.

I understand that the company is applying to the High Court today for the appointment of an Examiner and it would not be appropriate to make any further comment at this stage.