Courts / Dublin / Report
Liquidator says State should pay record €6.1m pension deficit for bust chemicals firm
Summary
The liquidator of Protim Abrasives Ltd, Kieran Wallace, argues that Irish legislation obliges the State to pay a €6.1 million deficit into the company's insolvent defined‑benefit pension scheme. Wallace, who admitted a preferential claim of €7 million based on actuarial advice, says the figure was reached through professional consultation, not arbitrary calculation. The State, represented by a barrister, contends the claim is untimely, having been made after the company entered liquidation in November 2009, and that the €7 million figure was an "extraordinary" number not scientifically derived. The Workplace Relations Commission has rejected the claim, citing the timing and the lack of a statutory limit on such deficits. Wallace is appealing the decision under the Protection of Employees (Employer's Insolvency) Act 1984, and the tribunal remains open to further legal argument.
Who, what, where, when and why
What: Report matter: Liquidator says State should pay record €6.1m pension deficit for bust chemicals firm. Procedural stage: trial
When:
- 12 November 2009 Other
- December 2009 Other
- 15 September 2008 Hearing Or Sentence
- July 2009 Adjournment
- December 2008 Adjournment
- new year Other
- 2023-11-03 Publication
Why: Protim Abrasives went into liquidation on 12 November 2009 after a rescue bid fell through "primarily" because of the scale of the pension liability, Mr Wallace told the tribunal – with the liquidation still live because of the pension fund dispute. CNI source report
Case subjects
Applicant
Outcome: adjournment
Places mentioned
Topics
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