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Companies (Bankruptcy Liabilities)

Volume 22: debated on Friday 30 April 1982

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asked the Minister for Trade if he will carry out a study into methods of remedying the existing situation whereby companies operating in the United Kingdom, which are part or subsidiaries of companies registered in the Irish Republic, are able to avoid the payment of their United Kingdom liabilities if they suffer bankruptcy in Ireland.

I am not aware of a problem of the kind described, given the powers in the Companies Acts for the courts to wind up a foreign-based company. If the hon. Member has a particular point in mind perhaps he would write to me and I will undertake to look into the matter.