Receivers appointed to waste company

BANK of Scotland has appointed joint receivers to the Mr Binman group of waste collection companies employing more than 330 people across Munster, with another 200 jobs indirectly dependent on them.

The bank, owed €53 million and the companies’ biggest creditor, said the receivers will operate the business as a going concern for the “short to medium term”, and that wages will be paid and waste collection services maintained.

The bank’s move came after the directors of the companies told the High Court yesterday they would not be appealing the court’s earlier refusal to appoint an examiner and were not objecting to receivership. In those circumstances, Ms Justice Mary Finlay Geoghegan ceased court protection for the companies, discharged the interim examiner, and said no winding up order would be made.