Hundreds of companies are believed to be waiting on statutory redundancy rebates and are consequently having problems meeting their obligations to their creditors and even the Revenue Commissioners.

Companies who make staff redundant must pay statutory redundancy out of their working capital and then await a refund from the Department of Enterprise, Trade and Employment.

However, it now appears that companies in some parts of the country are suffering serious delays in receiving the payment.

The Revenue Commissioners, led by chairwoman Josephine Feehily, have now agreed they will "defer'' collecting payment if companies can provide "satisfactory evidence'' that repayment is due shortly.

"Revenue has agreed with the Department of Enterprise, Trade and Employment a form of authorisation, for payment of the rebate direct to Revenue by the Department,'' the Revenue Commissioners told practitioners last week.

The Revenue will also want to know about the "quantum'' of the payment so the organisation does not have to end up bearing a loss for a period of time.

Another difficulty which has recently emerged is that companies sometimes have to book the redundancy payments in their books, even though they are awaiting rebate payments from the government.

This occurs near financial year ends when the payment has not still been drawn down.