Dáil Éireann Debate, Thursday - 13 May 2004
52 Mr. Kehoe asked the Tánaiste and Minister for Enterprise, Trade and Employment if, following the liquidation of Nítrigin Éireann Teoranta, all creditors have been paid; and if she will make a statement on the matter. [13761/04]
Amharc ar fhreagraNítrigin Éireann Teoranta is not in liquidation. Nítrigin Éireann Teoranta is the holding company for the State's interest in Irish Fertiliser Industries Limited, which went into liquidation in November 2002, and it is assumed that the parliamentary question refers to the liquidation of Irish Fertiliser Industries Limited.
I understand that the liquidation of Irish Fertiliser Industries Limited is progressing in an orderly and efficient manner and that considerable progress has been made in relation to the realisation of the company's assets. However, while the company's principal properties at Arklow and Marino Point have been placed on the market, I am advised that it may take some time to sell them.
I also understand that the company's obligations to secured creditors have now been settled in full while payments to preferred creditors, which would include some amounts due to former employees, have been or are in the course of being made. Unfortunately, it is unlikely that any payments will be made to unsecured creditors until the main property assets are sold, which could take some time.
