THE High Court has appointed Mr Paul Mackay as an examiner to the Dublin based Essbee Packaging company. Mr Mackay has been acting as interim examiner to the company, which currently has debts of around £1 million, since last month. It employs 20 full time workers and three casual staff and is a printer and manufacturer of folding packaging cartons.

The examiner has told the court that the company's difficulties appear to have stemmed from its overly extensive capital investment programme, where it suffered long delays in commissioning and installing equipment, which in turn created serious cost over runs and consequent cash flow problems.

The company had recorded sales of £1 million before it got into difficulties. With this profitable trading record, Mr Mackay has said he is confident that it can be restructured to the satisfaction of all creditors.