Supplier access to company accounts
De Rossa asked whether suppliers could see company accounts to protect themselves from sudden closures. Brennan said the Companies Bill would strengthen company law but did not address this specific issue, which he would examine.
I appreciate that part of this question at least has been overtaken by recent events. Is the Minister of State satisfied that suppliers to companies such as H. Williams are adequately protected against sudden closures in view of the fact that, unlike the banks, they do not normally have access to the accounts of these companies? Would the Minister of State consider introducing legislation or a regulation which would enable companies supplying supermarkets to have sight of accounts so that their investment in these companies would be protected?
Comment on this
I agree that those supplying any company are exposed but the Companies Bill which is at present before the Senaad will, when enacted, considerably strengthen company law, although it does not address that particular problem. It is a complex one and I will certainly take a look at it.