Quarry firm can continue trading
Carlow based Dan Morrissey Ireland Ltd has been given permission by a Judge to trade for another 100 days.
Mr Justice David Keane stated that an Interim examiner is to be put in place to come up with a survival scheme for the much maligned company.
Gary McCarthy SC (with Bernard Dunleavy BL), on behalf of the directors of the company, told the court yesterday the application for an examiner was made because the directors believed it was possible for it to continue as a going concern by restructuring the debt and pay it off by continuing to trade.
The alternative was that the liquidation sought by the bank would result in the loss of employment for 131 direct employees.
As matters stand, the company has ceased trading and employees have been told all will be made redundant under receivership which itself could cost around €3m because of the length of service of employees, counsel said.