By Ann O’Loughlin
High Court appointed an interim examiner to Co Meath based construction firm Manley Construction Ltd.
Ms Justice Marie Baker said she was satisfied to appointed Mr Michael McAteer of Grant Thornton Ireland to Manley Construction Ltd, with a registered address at Duleek Co Meath after being informed the company is insolvent and unable to pay its debts as they fall due.
However the court was informed that an independent expert had stated in a report the company has a reasonable prospect of survival as a going concern if certain steps are taken including the appointment of an examiner to the firm.
The examiner has up to 100 days to put together a scheme of arrangement with the firm’s creditors, which if approved by the High Court will allow the company to continue to trade as a going concern.
The Judge noted that the firm has been in business for more than 30 years and has been involved in the construction of a number of important pieces of infrastructure.
The firms creditors include Revenue Commissioners, Kilsaran Concrete, NAMA and several other building firms. They have all been put on notice of the proceedings.