Dáil Éireann Debate, Wednesday - 20 January 2016
34. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation if he has sought to legislate to prevent a repeat of the Clerys store strategic insolvency and if he has met with Natrium Ltd. to discuss the future of Clerys store. [2063/16]
View answerSince news of the Clerys insolvency broke, I have maintained that we must be careful not to take rushed steps to amend the law and to create unintended consequences. Last week Minister Ged Nash and I announced that we have appointed two experts to examine the legal protections for workers, specifically in situations where valuable assets in a company are separated from the operating entity, and how the position of employees can be better protected in such situations. The experts have been asked to report by 11 March 2016.
As part of the twin track process, I have also separately requested the Company Law Review Group to examine legislation with a view to recommending ways company law could be amended to better safeguard employees and creditors.
With regards the latter part of the Deputy’s query, neither Minister Nash nor I have met with Natrium.
