asked the Minister for Industry and Commerce if he is satisfied that the laws relating to companies going into voluntary liquidation provide adequate protection for creditors; and if he considers that sufficient liability attaches to the directors of companies going into voluntary liquidation.
Ceisteanna—Questious. Oral Answers. - Voluntary Liquidation of Companies.
24.
Yes, I am satisfied. When company law was revised in 1963, extensive new provisions were included for the protection of creditors of companies going into voluntary liquidation. The voluntary winding up of insolvent companies is now carried out almost wholly under the control of the creditors. I consider that the liability attaching to the directors of companies is adequate.