Vol. 395 No. 5
46 Mr. Barry asked the Minister for Finance the present position regarding Fóir Teoranta; the amount of money which was due to the company on (a) 31 January 1989 and (b) 31 January 1990; and who is responsible for collecting this money.
The Government decided on 21 February 1989 that Fóir Teoranta was to be wound up and that no new applications for rescue assistance should be accepted from 23 February onwards. Since then, the winding down of Fóir Teoranta has been proceeding in an orderly manner and its staff have availed of voluntary redundancy/redeployment arrangements.
At the end of the winding down period Fóir Teoranta will be abolished and its assets and liabilities, including its portfolio of loans and equity holdings, will be transferred to another public sector body under the terms of legislation which I hope will be circulated shortly. In the meantime, Fóir Teoranta will continue to be responsible for collecting all outstanding amounts due to it.
The following amounts were due to Fóir Teoranta on the balance sheet dates 31 December 1988 £16.431 million; 31 December 1989 £16.355 million.
