Dáil Éireann Debate, Wednesday - 4 May 2005
275 Mr. McGuinness asked the Minister for Enterprise, Trade and Employment, further to previous parliamentary questions, his views on the position of some unsecured creditors such as a company (details supplied) in County Kilkenny which as yet have not been paid by the liquidator at IFI; the costs incurred to date by the liquidator; the prospect of payment for those yet unpaid; and if he will make a statement on the matter. [14294/05]
Amharc ar fhreagraThe determination of any payments due to creditors of IFI is a matter solely for the liquidator. The position of unsecured creditors can only be determined by the liquidator when all the assets of the company have been realised and all liabilities established. In this regard, I understand that the liquidator has made considerable progress in realising the assets of the company and establishing the full extent of its liabilities. The liquidator has indicated that he hopes to complete the liquidation process later this year.
At this stage, the main production sites at Arklow and Cork remain the principle assets yet to be realised. It is understood that contracts have been signed for the sale of the Arklow site and the sale is due to close later this month. Discussions have also been taking place with a number of parties about the Cork site. It is a matter solely for the liquidator to determine whether to accept any particular offer made.
Reports received from the liquidator on the progress of the liquidation covering the period to 7 November 2004 indicate that the liquidator has been paid fees and expenses amounting to €4,197,576.
