asked the Minister for Industry and Commerce when the many shareholders with PMPA can expect to receive a return on their investment; the reasons involved for the inordinate delay in providing recompense to the many shareholders in question; and if he will make a statement on the matter.
Written Answers. - PMPA Shareholders.
34.
Limerick East): The value of shareholders' interests in PMPA Insurance plc (under administration) was completely eroded by the losses incurred by the company, which losses caused the company to be placed under administration. The extent of the losses is such that the administrator has stated that, in realistic terms, there is no prospect of shareholders recovering any of their investment. This is a normal consequence of business failure and is a risk which shareholders in any company must consider when making an investment in share capital.