Dáil Éireann Debate, Thursday - 19 May 2016
219. Deputy Dara Calleary asked the Minister for Jobs, Enterprise and Innovation the action she has taken to protect jobs in a company (details supplied) since the appointment of an examiner to it; and if she will make a statement on the matter. [11154/16]
Amharc ar fhreagraExaminership is a process by which a company is placed under the protection of the court for a period of time during which all claims against it are, for the most part, frozen and during which the company’s difficulties are investigated and a survival scheme is formulated. The purpose of an examinership is to facilitate the survival of the company and the whole or part of its undertaking as a going concern. Examinership allows some breathing space for potentially viable but ailing companies. The main advantage of examinership is the court protection afforded to the company from any actions brought by larger creditors to the detriment of all, including employees. The process involves the appointment of an examiner who will then consider various “rescue plans” (such as restructuring) designed to get the company back on its feet. During an examinership (a period that lasts 70 days but can be extended to 100 days) a company continues to trade and operate as usual.
As the company concerned is under the protection of the Court it would be inappropriate for me to comment further.
