An examiner has been appointed to the Regency Hotel. It's hoped it can secure the hotel's future and the future of 109 jobs.
It's understood the hotel took a knock to its business following last year's shooting. David Byrne was shot dead during a boxing weigh-in event, which resulted in the Hutch-Kinahan feud raging in Dublin.
This afternoon, Regan Development Limited made a successful application to the High Court for the company to be placed into Interim Examinership.
A statement explained that "the High Court was satisfied that the hotel continues to trade well and the company had a reasonable prospect of survival."
Regan Development Limited said the court's approval for Interim Examinership would allow them time to reach a scheme of agreement with their creditors.
The Regency Hotel, which is home for a number of homeless families, remains open for business.
