Dáil Éireann Debate, Thursday - 4 July 2013
140. Deputy Pearse Doherty asked the Minister for Jobs, Enterprise and Innovation if he will confirm if section 286 of the Companies Act 1963 in regard to legal rules pertaining to any payments made in favour of any creditor in the six months leading up to the appointment of the special liquidator were complied with by Anglo Irish Bank. [32760/13]
Amharc ar fhreagraSection 10 and the Schedule of the Irish Bank Resolution Corporation Act 2013 dis-applies section 286 of the Companies Act 1963 in relation to any act relating to property by IBRC (within the meaning of the Irish Bank Resolution Corporation Act 2013 ) in favour of the Central Bank of Ireland. Responsibility for this legislation rests with my colleague the Minister for Finance.
In general, in every winding up to which section 286 of the Companies Act 1963 applies, the onus of proof is on the liquidator to establish if there was a dominant intention to prefer one creditor over another. Ultimately, the determination of whether there was a preferential transaction is a matter for the court to decide and I have no direct function in the matter.
