Boylesports wins Ladbrokes High Court bid in Republic
Bookmakers Boylesports, which is interested in buying rival Ladbrokes Ireland out of examinership, was yesterday granted leave by the Republic's High Court to "raise questions about the performance by Ladbrokes' examiner".
Boylesports, founded by Co Armagh man John Boyle, was given permission to raise the matter in court today.
The Ladbrokes Irish unit is currently under court protection from its creditors through examinership.
It plans to close up to 60 of its 196 betting shops in Ireland and to cut 250 jobs as part of a proposed rescue plan. Ladbrokes' separate operations in Northern Ireland are unaffected.
That deal would see the Ladbrokes business in Ireland remain under the control of its UK-based parent.
However, Boylesports, which started out as a single bookies in Markethill, had approached the examiner regarding an alternative plan which would also include shop closures but, it is claimed, would offer better terms to creditors, mainly landlords.