Mount Wolseley Seeks Court Protection
Published on Apr 22 2014 3:46 PM in Hotel
Mount Wolseley Hotel and Golf Resort, the Co Carlow estate which owes various banks €60 million, has asked the high court for protection against creditors long enough so that it can put a rescue plan together.
Last week the High Court was told that the Tullow hotel, which employs 175 people, is currently worth between €5 million and €6.5 million.
Bank of Ireland, who are owed upwards of €20 million by the hotel, wants to appoint a receiver opposing Mount Wolseley's application.
Owners the Morrissey family asked Judge Keane to appoint Ian Lawlor as Examiner to the business which includes a 143 bedroom hotel.