I propose to take Questions Nos. 72, 82, 84 and 86 together.
As the Deputy is aware, the legislation surrounding liquidation ranks employees as preferential creditors in respect of certain amounts owing to them on a winding up, including accrued wages and salaries, holiday pay, sick pay, statutory redundancy, pensions contributions and claims for damages arising from accidents. Any claims over and above that described above will rank as an unsecured claim in the liquidation process.
There are standard rules which apply to the distribution of the assets of companies in liquidation and it would not be appropriate for me to interfere with these rules. However the State does intervene to ensure that statutory redundancy is available.
The special liquidators were promptly in contact with staff on Thursday 7th February and, unlike in other liquidations, the majority of employees have been re-hired by the special liquidators, for a minimum period of 3 months, to ensure an orderly wind-down of the business.
The special liquidators have said that it is their key priority that all employees are fully kept up to date on all developments during the course of the special liquidation. They have indicated that their approach will be to talk with employees directly either in small groups or on a one to one basis and they also plan to communicate by email general updates to employees during the course of the special liquidation.