Judge gives Creeslough businesses more time

Judge gives Creeslough businesses more time
A supermarket, Vivo filling station and pub in Creeslough have been given extended protection at the High Court after local residents launched a campaign to help keep them in business.

A supermarket, Vivo filling station and pub in Creeslough have been given extended protection at the High Court after local residents launched a campaign to help keep them in business.

Mr Justice Peter Kelly said on Thursday he was concerned at the length of time the examinership was taking for Vivo Shell Ltd and related company Lafferty’s Creeslough Ltd, both businesses in Creeslough. But he said he was also aware there were “25 jobs at stake” and there was “a good deal of support in the area, evidenced by a meeting of residents”.

The Irish Times reported on Friday that Mr Justice Kelly agreed to extend the time to complete examinership to June 1st, which he said was “the outer limit” of what legislation would allow.

Notice parties to the case, Allied Irish Banks and the Revenue Commissioners, did not object to the application to extend time, the court heard.

The companies went into examinership in February, giving them protection from creditors until a debt repayment arrangement process is complete. Local residents organised a “Save Our Village” campaign in response.

In court on Thursday, Mr Justice Kelly was told there were two potential investors for the businesses and it was expected they would make offers by the 22nd of this month. Owner Danny Lafferty also intended to sell some non-core property at public auction later this month, the proceeds of which would be used to pay creditors.

The judge, according to the Irish Times report, said he was concerned at the delays in what was “a small examinership by the standards of this court”.