Dáil Éireann Debate, Thursday - 8 September 2022
33. Deputy Brendan Griffin asked the Tánaiste and Minister for Enterprise, Trade and Employment the progress that has been made on the review of eligibility for the insolvency payment scheme; and if he will make a statement on the matter. [43712/22]
View answerMy officials are continuing to examine policy and legislative options to develop a mechanism through which a competent authority may determine that a state of insolvency arises, without requiring a formal wind-up process, and that monies due to employees may be claimed by them from the Social Insurance Fund.
Engagement with the relevant internal and external stakeholders is ongoing. The priority is to find a solution for employees who are in the situation where their employer has ceased to trade without engaging in any formal wind-up process.
However, there are challenging issues to be addressed including the manner in which the insolvency of the employer can be verified in the absence of any wind-up procedure. Potential impacts on bankruptcy and company law and safeguarding the Social Insurance Fund must also be considered. Legislative amendments will be necessary.
I wish to assure you resolving the complex matters involved remains a priority for the Department.
