The financial director of Irishenco, the civil engineering company which went into liquidation a fortnight ago, said yesterday that he was confident that the company would be sold after a liquidator is appointed next Monday. Mr Jerry Cunningham said that there were four outstanding contracts which the company could finish if it is acquired although many of the 250 workers had been receiving alternative offers.
"The contracts will certainly be finished, and workers can be re-employed," he said. Irishenco has the Saggart/ Rathcoole interchange to complete, as well as the Wexford main drainage contract, the reservoir project for Waterford and the south quays project at Dublin port. He said that a statement of affairs was currently being prepared for next Monday's creditors meeting.
There was some shortfall in the pension fund operated by the Construction Industry Federation, Mr Cunningham added, but there was a top-up scheme established under the Pensions Act.
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