I note that Debenhams is a court-supervised liquidation, subject to the oversight of the High Court, and accordingly is sub judice. While company law matters are the responsibility of the Minister for Enterprise, Trade and Employment, there is in fact no ministerial power to intervene in a court-supervised liquidation.
In general terms, the Companies Act 2014 already includes provisions which may be utilised by liquidators or creditors of an insolvent company in appropriate cases. These include section 608, regarding the power of a court to order the return of assets which have been improperly transferred, and section 599 where a related company may be required to contribute to debts of company being wound up. A range of factors will be involved for liquidators or creditors in deciding whether to pursue litigation based on these provisions of the Companies Act 2014. Such statutory provisions and the associated civil and criminal penalties also provide an important deterrent effect.
Alongside Company Law, companies must also of course comply with other legal requirements including their obligations in respect of the treatment of their employees, creditors and disclosure to and compliance with Revenue requirements.
I trust this clarifies matters for the Deputy.