asked the Minister for Industry and Commerce whether, in view of the very improved trading position of Irish Steel Holdings, Limited, it is proposed to give sympathetic consideration to the claims of those persons who invested capital in Irish Steel, Limited, or who supplied goods or services for which they did not receive payment and whose claims against Irish Steel, Limited, have not been discharged or met to any degree.
Ceisteanna—Questions. Oral Answers. - Claims against Irish Steel Limited.
Irish Steel Holdings, Limited, has no connection with Irish Steel, Limited, and cannot undertake responsibility for any liabilities of the latter company.
Is the Minister aware that practically the only difference is a change in name and a very slight difference in personnel? It is not fair to investors, particularly to all those with small means and those firms who have lost hundreds of pounds. It is the same firm.
The Deputy misunderstands. Irish Steel, Limited went into liquidation and the present company bought in the works on the distribution of the assets. There is no connection with the former company at all.
Would it be right to say that it was simply a switch over— with a change of banks from the Munster and Leinster to the National Bank and such small details as are covered by company law—that has saved this company?
The company went into liquidation and the State was the biggest creditor and even the company's liability to the State was not fully discharged.
In view of the fact that the new company by the Minister's direction was enabled to buy scrap metal at £3 10s. a ton from Córas Iompair Eireann which is worth £15, they might ex gratia give some of that excess profit to the injured party.
That does not arise out of this question.
If Córas Iompair Eireann sold scrap metal at £3 10s. I would have something to say to them.
Nach mór an tíontas é sin.