Written question asked by Iris Robinson (Democratic Unionist Party) on Monday, 31 January 2005, in the House of Commons. It was due for an answer on Wednesday, 6 April 2005. It was answered by Barry Gardiner (Labour) on Wednesday, 6 April 2005 on behalf of the Northern Ireland Office.

Northern Ireland Office

Question: To ask the Secretary of State for Northern Ireland, how much of the grant assistance which was offered to TK-ECC in 1999 has been clawed back since its closure; and if he will contribute funds clawed back to the company's pension fund.

Answer: Mrs. Iris Robinson: To ask the Secretary of State for Northern Ireland how much of the grant assistance which was offered to TK-ECC in 1999 has been clawed back since its closure; and if he will contribute funds clawed back to the company's pension fund. [213549] Mr. Gardiner: Under the terms of a Financial Assistance Agreement dated 4 June 1999, between TK- ECC Ltd. and the then Industrial Development Board (IDE), a total of £2,000,000 was made available to the company and £800,000 of this was drawn down. Following the closure of the company, Invest NI determined that £275,000 was recoverable under the terms of the Financial Assistance Agreement. This amount was repaid in full by the company on 4 October 2004. There is no provision that would allow funds recovered to be made available to the TK-ECC Ltd. Pension Fund.

Secondary information

Type: Written question
Reference: 432 c1542W;432 c1538W; 213549
Session: 2004-05
Subjects: Closures Insolvency Government assistance Pension funds Repayments TK-ECC
Contains statistics: Yes
Link: View this Written question on www.publications.parliament.uk