The Cok-Swansea ferry using the MV Julia and operated by the Fastnet Line has gone into Examinership. It has been operating for less than 2 years. Over €700k of public money went into the venture from Cork and Kerry County and Cork City Councils. The company are blaming oil prices as the key reason for the failure of the enterprise.
Cork-Swansea ferry line enters examinership - RT News
This on a day that Aer Arann closes down its Galway Airport routes.
We badly need some strategic initiatives for the Western seaboard in terms of promoting tourism and if necessary subsidizing transport.
The Mahon Tribunal found Olivia Mitchell to have received an inappropriate payment from Frank Dunlop at the time of the 1992 Election. F.G. Gael has taken no action against her.
Did the board get bonuses for leading the company to bankruptcy?
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There won't be great prospects for tourism outside Dublin if there are fewer ways of taking a car to Ireland. The tax relief for operating car hire has been axed.
Ein Reich! Ein Volk! Ein Euro!
So what.
The creditors end up paying by taking a circa 90% cut in amount owed to them.
Buy one get one free - Vote DELUDED Fianna FAIL and get the IMF thrown in FREE
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Who are the creditors?
Ein Reich! Ein Volk! Ein Euro!
"In a separate statement issued by the three local authorities, they confirmed they will provide €150,000 in co-funding for the period of the examinership"
Madness.
Is it to be used to pay the examiners
Buy one get one free - Vote DELUDED Fianna FAIL and get the IMF thrown in FREE
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Good question - in any case going on what is considered a successfull business person in this country, they stand a good chance of being hired by RTE for Dragons Den or some other entrepeneur related guffOriginally Posted by ivnryn
Did the board get bonuses for leading the company to bankruptcy?
Last edited by Falco; 1st November 2011 at 05:44 PM.
I don't know if the vessel is leased or not. But I am sure there are a range of suppliers that could be stiffed as well.
Keep the company ticking over until the 2012 summer season it seems. If its not viable now I do not know how it is going to be viable as an 8 month income earning company with 12 month running costs?"In a separate statement issued by the three local authorities, they confirmed they will provide €150,000 in co-funding for the period of the examinership"
Madness.
Is it to be used to pay the examiners
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