Interim examiner appointed in bid to save HSI

Horse Sport Ireland, the national governing body for equestrian sports in Ireland, has been granted High Court protection. An interim examiner has been appointed by the company's directors in an effort to prevent its collapse. Barrister Arthur Cunningham informed Mr Justice Liam Kennedy that an independent expert, Joseph Walsh, agreed that the company could be saved through examinership.

The company, which employs 47 individuals, heavily relies on grants from the Department of Agriculture, Food and the Marine as well as Sport Ireland. The company was recognized as the national governing body for equestrian sports by various sports organizations. However, the company faced significant legal costs due to defamation proceedings, which led to its financial troubles.

The petition for an interim examiner was brought by the company's directors during a recent meeting. The company's main objective since its establishment in 2006 was to serve as the centralized national body for the entire horse industry. The company has incurred costs for software development and has ongoing obligations for pension and payroll.

The directors believe that the examinership process would provide a reasonable chance of the company trading successfully in the future and preserving current jobs.