Aer Arann survival plan approved in principal

Nov 3
Aer Arann - Revenue withdraws objections to survival scheme

Aer Arann – Revenue withdraws objections to survival
The High Court has approved in principal a survival scheme for Aer Arann which has been in examinership since August.

The decision follows the withdrawal of objections to the scheme by the Revenue Commissioners after it was agreed that Revenue debts will be paid over 18 months.

The decison also paves the way for an additonal €2.2m investment in the company.

(Taken from http://www.rte.ie/news/2010/1103/aerarann-business.html)

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