Examinership may end at crystal firm

The examiner appointed just last month to Cavan Crystal Glass Limited will apply to the High Court tomorrow to end the examinership…

The examiner appointed just last month to Cavan Crystal Glass Limited will apply to the High Court tomorrow to end the examinership of the company, which employs 80 people.

Yesterday, Mr Justice Shanley adjourned the application made on behalf of Mr David Hughes, who was appointed examiner by the Supreme Court last month. The judge continued the court's protection until tomorrow.

Mr Justice Kelly had decided it had not been demonstrated there was an identifiable possibility of the company surviving as a going concern if he appointed an examiner.

The Ulster Bank, which is owed more than £700,000, had opposed the petition while the Revenue authorities, which are owed some £350,000, maintained a neutral position. Bord Failte which has invested £350,000 supported the petition as did a number of other creditors.

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