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

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.

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.

The agency is opposing the appointment of an examiner to the insolvent Co Clare companies that currently employ 119 people.

The group which supplies stone, concrete and road surfacing products for the construction industry owes a further €10m to unsecured creditors.

Court protection was temporarily granted to Whelan’s nearly two weeks ago.

The move has temporarily stopped creditors from calling in debts, but the future of the group will be decided after a full examinership hearing this Friday.

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