Dáil Éireann Debate, Thursday - 16 July 2015
271. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation if he has written to the liquidators of Clerys requesting that the provisions in section 599 of the Companies Act 2014 are fully applied; if the liquidators have confirmed their intent to apply to the court seeking that all of the debts provable in the winding-up are provided for from a company's assets (details supplied) as necessary. [29691/15]
View answerThe liquidation of OCS Operations Limited is currently in the hands of liquidators under the supervision of the High Court. While the liquidation is at an early stage, I understand that the High Court was informed at the hearing on 6 July that the liquidators have identified a number of matters which they intend to investigate as part of the liquidation process. It is only when all the facts and events leading up to the winding up of the company are known – and any potential legal challenges raised - that an informed decision can be made on whether an amendment to Company Law should be made.
As the Deputy knows the liquidators have important duties under Company law. They include:
- an obligation to provide within 6 months of their appointment a report on the conduct of Directors to the Director of Corporate Enforcement;
- a requirement to make an application to the High Court for the restriction of Directors unless the Director of Corporate Enforcement has relieved the liquidator of this requirement.
The liquidators have their job to do and it would be inappropriate for me to interfere with the exercise of their statutory functions under the Companies Act 2014.
