Written Answers. - Parliamentary Debates - Houses of the Oireachtas

Questions— 14 February 2012. Written Answers
IDA Ireland
Two appointments were made to the Board of IDA Ireland — Mr. Alan W. Gray and Ms
Mary Campbell. The fee for membership of the IDA Ireland Board is €11,970 per annum. In
accepting his appointment, Mr Gray indicated that he did not wish to receive board fees.
National Standards Authority of Ireland Board (NSAI)
Ms Helen Curley, a Principal Officer in the Department of Jobs, Enterprise and Innovation,
was appointed to the NSAI Board on 8 July 2011. Ms Curley resigned from the Board on 15
November 2011.
No remuneration applied to this appointment
Science Foundation Ireland
Professor Martina McLaughlin-Newell and Dr. Rita Colwell were reappointed to the Board
of Science Foundation Ireland on 26 July 2011. Board members, other than serving public
servants, are entitled to receive a fee of a maximum of €11,970 per annum as per guidelines
from the Department of Public Expenditure and Reform.
Companies Registration
290. Deputy Gerald Nash asked the Minister for Jobs, Enterprise and Innovation if he will
provide information as to the number of estate management companies registered in the State
for the purposes of managing the provision of services in certain residential developments; if
he will provide details as to the number of such companies which have been declared insolvent
in 2009, 2010 and 2011; and if he will provide the information on a county basis. [7910/12]
Minister for Jobs, Enterprise and Innovation (Deputy Richard Bruton): I refer the Deputy
to my response to Question 211 of 7 February 2012 in relation to the number of estate management
companies declared insolvent in the years listed. The Companies Registration Office does
not maintain statistics on a county basis.
Industrial Development
291. Deputy Tom Fleming asked the Minister for Jobs, Enterprise and Innovation if he will
clarify the reasons for the refusal by Enterprise Ireland to invest in a company (details
supplied); and if he will make a statement on the matter. [7915/12]
Minister for Jobs, Enterprise and Innovation (Deputy Richard Bruton): The Cork Swansea
ferry route was re-launched in 2010 by the company concerned on the back of raising substantial
local community and private sector funding. Enterprise Ireland approved an investment in
the company in 2010 of €1m in redeemable preference shares, on full commercial terms, to
complete the funding round. This investment represented less than 10% of the overall funding
round.
Having sustained significant losses, the company entered interim examinership on 1
November 2011 and full examinership was granted on 15 November. The Examiner assisted
the company in drawing up plans to restructure its business and in seeking buyers/investors for
the business.
Enterprise Ireland met with the Examiner on 27 January last and the agency was asked to
consider further investment in the company. The agency immediately undertook a due diligence
process and its findings raised a number of issues regarding the viability of the business plan,
the proposed balance between private sector investment and State funding and consequent EU
State Aid implications. I understand from Enterprise Ireland that the agency concluded that
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