High Court examinership ruling 'will save 350 jobs'

Galway businessman John Sweeney has said 350 jobs have been secured by the High Court's decision to appoint an examiner to four of his companies.

The group, which includes insolvent businesses Sweeney Oil and Slyne Properties, owes its largest creditor Anglo Irish Bank €55m in loans and guarantees.

Mr Justice Brian McGovern today appointed Michael McAteer as examiner to John Sweeney's four insolvent companies expressing satisfaction that they had a reasonable prospect of survival.

Yesterday lawyers for the firms' largest creditor Anglo Irish Bank told the court it had irretrievably lost trust in the Galway businessman.

Three of the insolvent companies are part of the Sweeney Oil group. The fourth, Slyne Properties Ltd, runs the Marriott Hotel and spa on the Headford Road, Galway.

In a statement this afternoon, Mr Sweeney said he was delighted at the outcome – saying the decision will ensure the group can continue to employ its 350 staff.

More in this Section

WHO rep says Ireland right to debate balance of return to schoolWHO rep says Ireland right to debate balance of return to school

Men due in court following €3.9m cannabis seizureMen due in court following €3.9m cannabis seizure

Unity of Green Party doesn't rest on who got Cabinet positions - HouriganUnity of Green Party doesn't rest on who got Cabinet positions - Hourigan

Garda sergeant who investigated child sex abuse claim sues State over alleged harassmentGarda sergeant who investigated child sex abuse claim sues State over alleged harassment


Lifestyle

From days by the seaside to adrenaline-filled days riding rollercoasters, Leinster offers staycationers major bang for their buck.Staycations 2020: Leinster, where Eastern promises are delivered in full

Des O'Sullivan previews the diverse items that will spark interest among collectorsAntiques: From a sword to crystal chandeliers and a dictionary

Kya deLongchamps strikes up the band for some lesser copied American mid-century talentIt's July 4 so let's strike up the band for American designs

Leslie Williams looks at some zingy and zesty zinfandels for all budgetsWine with Leslie: The best zinfandel wines to toast America's Independence Day

More From The Irish Examiner