Dáil Éireann Debate, Wednesday - 8 March 2017
292. Deputy Imelda Munster asked the Minister for Transport, Tourism and Sport if Drogheda Port Company has made a provision against its share, loan and credit investment in its subsidiary (details supplied); if he has satisfied himself that the provision, if made, is adequate in view of the fact this subsidiary is insolvent to the tune of in excess of €600,000; and if he will make a statement on the matter. [12280/17]
View answerAs Minister, I have no involvement in the day to day operations of the commercial port companies. The financial management of the commercial ports and their subsidiaries is a matter for the port companies concerned.
I understand from Drogheda Port Company that the company has not made a financial provision against its share, loan and credit investment in its subsidiary company. Drogheda Port Company also advised that the subsidiary company is not currently operating at a deficit. All proper accounting standards and provisions are applied as required and the company's accounts are independently audited annually.
