THE High Court has formally approved restructuring plans for Formprint, the computer paper printing company on the Naas Road in Bluebell, Dublin.
Mr Justice McCracken approved the plans submitted by the examiner, Mr Paul Mackay, without any modifications.
The plans, which were supported by all parties including the Revenue Commissioners, will save 12 full time and three casual jobs.
Unsecured creditors have agreed to accept 15p in the pound. They include Georgia Pacific of Atlanta which was owed £168,000; International Paper UK, £293,000; Sunpaper and Board, £183,000; Smurfit, £14,000 and Dublin Box, £24,000.
The restructuring also included £500,000 of secured creditors who have agreed payment over a longer time and at a discounted rate. New shareholders will also invest £200,000.
