Saturday 18 November 2017

Court to hear report on 'Business Post' package

Examiner: Michael McAteerTim Healy

THE examiner of the company that owns the 'Sunday Business Post' will present his report on the rescue package for the newspaper to the High Court today.

It follows a series of creditors' meetings yesterday to consider selling the paper to investors led by media executive Paul Cooke for €2.75m.

Rossa Fanning, for the examiner Michael McAteer, told the Commercial Court yesterday it was the second-last day of the examinership of Post Publications Ltd and creditors meetings were due to be finished before lunch time yesterday.

He said Mr McAteer would then have to prepare a report for the court to consider following the outcome of those meetings.

Counsel said Mr McAteer regretted that details of the rescue deal had been leaked. However, terms of the deal had to be put before the staff of the newspaper and the details did leak, he said.

When the case comes before the court today, Mr McAteer will present his report on whether the rescue package can go ahead.

Irish Independent

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