The examiner appointed to the Eircom group of companies has accepted a proposal from senior lenders to take control of the company.
In a statement today Michael McAteer of Grant Thornton, the court appointed examiner, said that he had recommended accepting the offer from the senior lenders to a meeting of the creditors next Friday.
The company entered the examinership process with debts of over €3.75 billion.
The examiner said that he hoped that today's announcement would allow the Eircom group of companies to successfully exit the examinership process.
The examiner was appointed to the company six weeks ago, after the group of companies, including Eircom and Meteor, had asked the court for protection from its creditors.
The examiner rejected an offer for the group of companies at the beginning of April, and today said that no other offer would be considered.
In a statement the company said it had been notified of the examiner's decision.
The company's results for 2011, published last month, recorded a provision of €2.5 billion for restructuring debts. Revenues fell 8% in what was described by the company as a "challenging year".
