Irish National Trading Corporation closure
Dr. Browne asked about public investment in the corporation and amounts written off after it ceased trading. The Minister declined to comment further because of possible legal proceedings, including on concerns about the affected senior staff, while expressing sympathy for their situation.
asked the Minister for Industry, Commerce and Energy the total amount of public money invested in the Irish National Trading Corporation; the total amount of such money written off as a result of the closure of that organisation; and if he will make a statement generally on the affair.
Comment on this
The Irish National Trading Corporation is a private limited company in which the State has a minority share holding. The Deputy will no doubt appreciate that it would be most inappropriate for me, at this stage, particularly having regard to the public references to possible legal proceedings to add anything to the statement of the corporation's press release of 12 January, 1978, that the directors had decided to cease trading.
Comment on this
I appreciate the point about legal procedings, but if we could get away from that for a moment, perhaps the Minister would tell us whether he and his Minister are considering sympathetically the situation of the very highly qualified senior staff which this corporation had recruited and many of whom are half way through their careers? Has the situation been considered in which they have been left in consequence of a state of affairs to which they did not contribute in any way?
Comment on this
I understand the Deputy's concern, but the question he has put to me relates to that very item that bears directly on possible legal action.
Comment on this
Consequently, it would be inappropriate to refer to it. The board are facing legal action on behalf of the staff.
Comment on this
I appreciate that, but I would draw the Minister's attention to the human dimension of the situation and would ask him whether the Department, either in handling the case or, perhaps, in settling it, will keep in their minds the human dimension which is serious for the relatively small number of senior people involved?