Dublin Gas receivership
The Minister said the receiver’s role is to keep Dublin Gas operating and maintain an uninterrupted gas supply; creditors’ claims are a separate matter, and the receivership cost is not yet known. He rejected appointing an administrator and said the receiver’s position would be assessed after his report, while the company was due to be nationalised.
asked the Minister for Energy the purpose of retaining a receiver at Dublin Gas Company in view of his statement that all creditors, secured and unsecured, will be paid in full; if he will give the cost of the receivership to date; and if he is considering the appointment of an administrator to run the company.
Comment on this
I refer the Deputy to my statement in reply to his private notice question on 23 April last wherein I said that the objective of the receivership is to maintain the business as a going concern without interruption of supply and to put it on a viable footing. The payment of creditors is a separate issue and I made my position on this clear on the same occasion.
It is not possible to give the cost of receivership to date as the receiver has not yet completed his assessment of the situation in the company.
The answer to the third part of the Deputy's question is no.
Comment on this
What is the role of the receiver? I am sure the Minister will agree that a receiver is appointed on the basis of a debenture or representing a particular creditor — in this case it was Dublin Gas. The Minister has said that all creditors, secured and unsecured, will be paid. In the light of that I suggest that the receiver has no further role to play. An administrator should have been appointed and not a receiver. The appointment of a receiver could lead to very serious legal actions being taken.
Comment on this
Where proper claims exist they will be met. The Deputy is well aware that the objective of the receivership was to maintain the business as a going concern and ensure the continuous supply of natural gas to all customers. This has been happening. On 22 April the Government said the company would be nationalised without prejudice to possible participation by workers and consumers. That is the situation, as I have already explained to the Deputy on three occasions.
Comment on this
Does the Minister intend to continue with the receiver in his present role until the company is nationalised?
Comment on this
As I said to the Deputy in response to an earlier question the receiver has not yet reported. When he does, the position will be assessed.