SBP rescue plan before court next Wednesday

A rescue plan for the Sunday Business Post will be put before the High Court for approval next Wednesday.

The examiner who was appointed to steer the newspaper out of its current difficulties plans to sell the business to investors led by media executive Paul Cooke.

The High Court has heard most of the company's creditors back the proposed takeover deal.

Examiner Michael McAteer has told the court it's regrettable media reports have given the erroneous impression that the success of the scheme is assured and that the court proceedings are merely a formality.