Two telcos lining up to save Smart Telecom, paper says

1 Sep 2009

Two telecoms operators are reportedly planning to mount a rescue bid for debt-ridden Irish alternative operator Smart Telecom, the Irish Independent reports citing developments in the High Court yesterday The paper says that Mr Justice Kevin Feeney appointed an interim examiner to Smart YuRoE Broadband (SYBL) and its related companies Smart Telecom Holdings and Broadband Communications. The firms in question were granted court protection under examinership after its landlord, Citywest Limited, which is owed EUR80,521, last week sought to wind up Smart Telecom. An independent accountant backed the notion that the companies have a ‘reasonable prospect of survival under examinership’ and as such, the court set 9 September as the date for the hearing of petitions both for the winding up of Smart and the appointment of an examiner.