The owners of a Carlow Hotel will find out today if the High Court will offer it protection from its creditors.
The Mount Wolseley Hotel and Golf Resort in Tullow has made the application so they can put a rescue plan in place and save up to 175 jobs.
The 4 star resort in Tullow, owned by the Morrissey family, owes various banks €60 million but the High Court was told recently that its worth between 5 & 6.5 million euro.
The family has asked Mr Justice David Keane to appoint insolvency practitioner Ian Lawlor as examiner to run and hopefully save the business as a going concern.
Bank of Ireland, which is owed about €28 million by the resort’s owners, has opposed the application, claiming the examinership process has no reasonable prospect of securing the investment required to succeed.
