Saturday November 28, 2020

Petroceltic senior staff hang tough for a better deal

Staff left court with 20% of their payments to compensate for the takeover, writes Francesca Comyn

20th June, 2016

Talks went on all day Wednesday. Every now and then the parties would pile back into the High Court and update Justice Brian McGovern to the effect that more time was needed.

Michael McAteer of Grant Thornton had put together a survival plan for the beleaguered company and two affiliates which had gone into examinership in early March.

The Dublin-based oil producer had been living dangerously on rolling bank waivers in a slumped oil market....

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Related Stories

The party’s Housing spokesperson insists that when Mary Lou McDonald or Gerry Adams rail against the elites, ‘that‘s a populist strategic manoeuvre’

Rachel Lavin | 4 days ago

Facebook is coming under growing pressure about the long-term effects of viewing disturbing material on its content moderators

Róisín Burke | 6 days ago

Declan Ganley has several legal actions on the go, not including the one that RTE recently settled with him over a 2008 programme entitled Citizen Ganley. But his current focus is a case he’s taking against the Irish state to overturn the rules preventing attendance at Mass during Covid-19

Barry J Whyte | 6 days ago