Survival plan for Eircom to be approved

A survival plan for Eircom is expected to be approved at creditors’ meetings today.

Yesterday, the High Court rejected what was described by the companies and their examiner as an attempt by a competitor and disappointed bidder to “derail” the examinership process.

Hutchison Whampoa Ltd, parent firm of 3 Ireland, had applied to defer the meetings after alleging its indicative offer for Eircom was not properly considered by examiner Michael McAteer and it should be permitted “a proper appraisal” of its offer.