Creditor protection for State companies

Summary

Bruton asked whether the Bill would protect creditors of restructuring State-owned companies such as KDW. The Minister said the issue did not arise for State companies and that trade creditors are dealt with under existing company law.

John Bruton Mr. J. Bruton Fine Gael

Can the Minister tell us whether this legislation will apply to State-owned companies which are being restructured such as KDW?

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Albert Reynolds Mr. Reynolds Fianna Fáil

In what way?

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John Bruton Mr. J. Bruton Fine Gael

In the sense of protecting creditors.

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Albert Reynolds Mr. Reynolds Fianna Fáil

It does not arise. The Deputy drafted the Bill, therefore he should know. In any event, that is a separate question. I do not expect State companies to run away with Revenue moneys. Does the Deputy?

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John Bruton Mr. J. Bruton Fine Gael

In regard to trade creditors.

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Albert Reynolds Mr. Reynolds Fianna Fáil

Trade creditors are dealt with in the normal way under company law, as the Deputy is well aware.

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