High Court protection and examinership approved for Kilashee House Hotel and Lawlor's Hotel
Published 09/05/2014 | 18:20
A JUDGE has approved High Court protection and examinership for companies involved in operating two hotels in Naas, Co Kildare.
Mr Justice Peter Charleton said the hotels, employing 250 people, both appear to have a reasonable prospect of survival as going concerns.
The decision means the four star Kilashee House Hotel and Lawlor's Hotel will continue to operate as normal while the examiner, Kieran Wallace, prepares a survival plan.
Mr Justice Charleton approved protection for Craigfort Taverns Ltd, operator of the Kilsahee Hotel and Spa employing 182 people; Kilashee Schools Company Ltd, owner of some 25 acres lands adjoining the hotel containing car parks and grounds used by residents; and Marchford Ltd, operator of Lawlor's, employing 68 people.
The judge refused protection for Faxhill Homes Ltd, a property holding company owned by Co Kildare builder John Tierney which is the parent company of the other companies.
Faxhill has liabilities of some €77m to NAMA which opposed protection for it (Faxhill) but adopted a neutral position on examinership for the other companies. The Revenue Commissioners were neutral concerning all four companies.