Plan to allow SBP exit examinership being finalised

Saturday 15 June 2013 00.09
Meetings were held yesterday to consider the proposed sale of the paper to investors
Meetings were held yesterday to consider the proposed sale of the paper to investors

A rescue plan for the Sunday Business Post is being finalised for a High Court hearing next week to allow the paper exit examinership.

A series of creditor meetings have been held to consider the proposed sale of the newspaper to investors led by media executive Paul Cooke.

The High Court was told a number of creditors had voted in favour of the scheme.

In the Commercial Court Mr Justice Peter Kelly extended protection for Post Publications Ltd, owner of the Sunday Business Post, to next Wednesday when he will hear the application.

Ross Fanning, counsel for the examiner, said they were anxious to have an early hearing so the investor could "have his stamp" on the edition of the paper due out on Sunday week.