Indo "may seek examinership" - report
6 July 09

Independent News and Media has already done preparatory work for a possible examinership, according to a weekend report.

The preparation has taken place, the Sunday Business Post says, to prepare for the prossibility that the group cannot reach an agreement with its bondholders over a €200m payment that was due in May. Chief executive Gavin O'Reilly has been in negotiation with bond holders but there is no certainty that any emerging deal will be backed by major shareholder Denis O'Brien.

O'Brien is known to believe a hard line should be taken in the negotiations and that the group needs a bigger and deeper restructuring, the Post said.