TWO further prospective investors have shown an interest in saving the Bell Line shipping company, the High Court was told yesterday. Mr Justice Shanley deferred consideration of a rescue plan for the company for another two weeks.
Mr Bill Shipsey SC, for Mr David Hughes, accountant, who is examiner to the company, told the court the examiner was seeking the adjournment to allow him to further progress discussions with two separate groups of investors.
They were stepping into the breach created by the original investor who was no longer interested. Sixteen parties interested in the examinership, including creditors, were not opposed to the adjournment.
The examiner in an affidavit said that since June 3rd he had discussions with a number of parties with a view to finding an alternative investor and serious interest had been shown by two potential investors. They had confirmed they were interested in investing in place of the investors represented by NCB Corporate Finance, subject to implementation of a scheme of arrangement for the companies.
He said that, for reasons of confidentiality, the prospective investors had requested their names not be made public at this stage.
Mr Shipsey said that it had been made perfectly clear to the prospective investors by the examiner that if they were interested they must step into the shoes of the original investor.
