High Court to hear petition to appoint examiner to Whelan's Group

cozzy121

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May 26, 2009
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5,117
Another Clare ff'er bites the dust.

http://www.breakingnews.ie/archives/2010/1201/business/high-court-to-hear-petition-to-appoint-examiner-to-whelans-group-483962.html

A High Court petition to have an examiner appointed to save the Whelan’s Group, one of the country’s largest concrete suppliers, will be heard this Friday.

Its biggest creditor, Nama, is opposing continued court protection for the insolvent Co Clare based group which also owes money to Bank of Scotland Ireland and the Revenue Commissioners.

The High Court heard today that Nama is the Whelan’s Group’s biggest creditor having taken over a debt to Anglo Irish Bank of €50m.
 


hammer

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Jul 6, 2009
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They will get to write off 98% of their unsecured debts. Jobs will be safe in Whelans. What about the jobs in creditor companies ?

Banks will get 50/60%

Only co`s with access to funds can afford EXAMINERSHIPS :)
 

hammer

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Jul 6, 2009
Messages
58,180
Revenue Commissioners "neutral" on €690,000 debt.

Can I write off my Revenue debts and not go through an examinership process :)
 
Joined
Feb 7, 2009
Messages
49
They will get to write off 98% of their unsecured debts. Jobs will be safe in Whelans. What about the jobs in creditor companies ?

Banks will get 50/60%

Only co`s with access to funds can afford EXAMINERSHIPS :)
Gone into receivership, 120 jobs gone, have a nice Christmas
 


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