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Displaying items by tag: Administors

Administrators of the Harland and Wolff shipyard, reports BBC News, say they have received a number of non-binding offers to buy the business as a going concern.

The yard, best known for building the Titanic, was placed into administration earlier this month.

Administrators, BDO, said there are other interested parties which may result in further offers.

BDO has agreed with the unions to extend the unpaid temporary lay-off of staff until 30 September.

For more on this latest development at the east Belfast yard, click here.

Published in Belfast Lough

Potential bidders, reports Belfast Telegraph, have expressed an interest in buying Harland and Wolff, administrators have confirmed.

Insolvency experts Brian Murphy and Michael Jennings from business advisory firm BDO are now running the business.

On Wednesday the majority of the 123 staff have been able to opt for temporary lay-offs, a move which maintains their employment contracts. However, some have already opted for redundancy.

A spokesperson for BDO said on Friday: "In light of insufficient funds to cover the current running costs of the business and in the absence of any other funds being available at this point, in conjunction with Unions, the administrators have agreed to facilitate an unpaid temporary lay-off until Friday 16th August.

The newspaper here has more on the story. 

Published in Belfast Lough

The Irish Cruiser Racing Association (ICRA) Information

The creation of the Irish Cruiser Racing Association (ICRA) began in a very low key way in the autumn of 2002 with an exploratory meeting between Denis Kiely, Jim Donegan and Fintan Cairns in the Granville Hotel in Waterford, and the first conference was held in February 2003 in Kilkenny.

While numbers of cruiser-racers were large, their specific locations were widespread, but there was simply no denying the numerical strength and majority power of the Cork-Dublin axis. To get what was then a very novel concept up and running, this strength of numbers had to be acknowledged, and the first National Championship in 2003 reflected this, as it was staged in Howth.

ICRA was run by a dedicated group of volunteers each of whom brought their special talents to the organisation. Jim Donegan, the elder statesman, was so much more interested in the wellbeing of the new organisation than in personal advancement that he insisted on Fintan Cairns being the first Commodore, while the distinguished Cork sailor was more than content to be Vice Commodore.

ICRA National Championships

Initially, the highlight of the ICRA season was the National Championship, which is essentially self-limiting, as it is restricted to boats which have or would be eligible for an IRC Rating. Boats not actually rated but eligible were catered for by ICRA’s ace number-cruncher Denis Kiely, who took Ireland’s long-established native rating system ECHO to new heights, thereby providing for extra entries which brought fleet numbers at most annual national championships to comfortably above the hundred mark, particularly at the height of the boom years. 

ICRA Boat of the Year (Winners 2004-2019)