Dublin-based smart card company Cardbase has been taken out of examinership after the High Court approved a scheme of arrangement today.
£4.3m has been raised by a number of investor groups, including ICC Software Partners and Eastbound, a Denis O'Brien investment company. A statement said this would take the company through to positive cash flow and profitability for 2002.
The company made 29 people redundant in August, just after the appointment of the examiner, leaving it with 65 staff.
