Celtic Roads Group (Waterford), the owner of the N25 Waterford bypass, is asking creditors to vote on a restructuring plan to rescue the ailing business which has secured debts of around €200 million. In an upcoming meeting on July 20, senior creditors will vote on a scheme of arrangement to significantly write down the company’s loans and engage in a debt for equity swap. It comes as new owners step in to take over the toll road, owned until now by Dutch engineering group BAM, Altas Investments (formerly NTR), and the Spanish construction group ACS. As reported by Ian Kehoe…

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