In a hotly contested court hearing, the rescue package for the Irish airline was described as a "hostile takeover" by existing shareholder SARA. Its interests will now be wiped out in favour of Danish aviation investor Lars Thuesen.
The restaurant upstairs on Grafton Street has fed generations of Dubliners since 1971. It is hoped the rescue plan will give the venue a new lease of life.
The company was once valued near €100m but was bought out of examinership for €6.9m. Co-founder Kieran Daly and Rob George of new owner Hamilton Beach explain what’s next.
In May accountant Joe Walsh was tasked, as examiner, with rescuing 25-year-old Instrotec. On Thursday his rescue plan was approved by the High Court. What does it say?
The examiner's survival plan imposes a €60m haircut on creditors of the former Press Up company but secures jobs at some of Dublin's best-known bars and venues.
Trade returns are positive but lower than projected at the well-known bar and restaurant that entered examinership in June over Revenue debts of over €1.7m.
Founded in 1971, the company which operates Captain Americas on Grafton Street has had an interim examiner appointed. Over the decades, it hosted U2 and Chris de Burgh.
The winding down of a Lufthansa contract is among the “financial and logistical difficulties” facing the airline, the court heard. It is the second time in five years CityJet has been granted court protection.
An independent expert report has been circulated to creditors of Instrotec, a specialist company with a proud history. The report reveals three major issues with contracts in Ireland, Sweden and the Netherlands.
The Dublin-based hospitality group is behind 12 popular venues. It now seeks examinership after alternative lender Relm demanded the repayment of guarantees.
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