Sir, The collapse of the Taylor Group and the subsequent attempts to apportion blame have centred on the effectiveness of the independent IBA (Irish Brokers' Association) and its shortcomings. What about the actions, or lack of them, of the Companies Office? Apparently no returns have ever been made by one Taylor company since its incorporation, and another has not filed since 1990.
Invariably when companies get into trouble in this country, on checking it will be found that no returns have been made, sometimes never but usually for long periods. I have had occasion to talk to the Companies Office on numerous occasions concerning potential customers, suppliers, etc, on whom no records are filed, only to find a staff which is operating a totally random and ineffective monitoring system.
If returns had been sought effectively and been obtained by the State run Companies Office, the investors in Taylor might have been saved, or might have got some early warning. - Yours, etc.,
Managing director,
Irish Fencing Ltd,
Kylemore Park South,
Dublin 10.