The Pilot Training College Waterford (PTC) was a privately owned and operated flight training organisation that reneged on its contractual obligations and failed its students. On 28 September 2012 the High Court ordered the liquidation of PTC. Neither the IAA nor the taxpayer are liable for the failure of this private sector company. The IAA's responsibility for flight training organisations cover the oversight of the safety, quality and standard of the training being delivered, the conduct of examinations and flight tests to the appropriate EU standard. In the circumstances that arose, the IAA made every effort to assist students of PTC to complete their training. Any alleged breach of company law is a matter for the Office of the Director of Corporate Enforcement.