Manley Construction to exit examinership after scheme approved

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

The High Court approved a survival scheme for Manley Construction, with Ms Justice Marie Baker satisfied that the Duleek, Co Meath, company should exit examinership. The proceedings were reported on 16 March 2018.

The court had previously heard that the company was insolvent and unable to pay its debts. Ms Justice Baker said the scheme would save the family business and give creditors a better result than a winding-up.

The company employs 50 people and had worked on important infrastructure projects. Under the scheme, it was agreed that loans from its four directors would be converted into ordinary shares. Certain disputed creditor claims were addressed through an offset arrangement.