12-Oct-2010 11:03 AM
Aer Arann statement
Direct News Source
11-Oct-2010 In the High Court today Justice Mary Finlay Geoghegan approved the continuation of the examinership of Comhfhorbairt (Gaillimh) trading as Aer Arann.
Today the Examiner, Mr. Michael McAteer of Grant Thornton informed the court that a conditional investment agreement had been signed today and in light of this he remained of the opinion that the Company has a reasonable prospect of survival as a going concern.
The Examiner is in the process of finalising his Scheme of Arrangement and intends to issue these proposals to creditors in the coming days. Creditors meetings will be held in the week beginning October 18th.
The next court hearing has been set for 22nd October.