Scheme of arrangement approved for Ardmore Technologies

THE High Court has approved a scheme of arrangement for Ardmore Technologies, which designs, installs and maintains local and wide area phone networks and employs 15 people.

The company has been under court protection since September last, but that examinership will be lifted on January 31 next when the scheme of arrangement will come into effect, directed Mr Justice Peter Kelly yesterday.

Mr Neil Hughes was appointed examiner to the company, which was incorporated in 1996 and has registered offices at Dungarvan Business Park, Dungarvan, Co Waterford, on the unanimous petition of the directors after the company encountered cash flow problems last year. The judge was told the company hoped to get into a break-even situation and it was believed to have a good possibility of survival provided a number of conditions are met, including the securing of investment.