Following the granting by Mr Justice Peter Kelly of temporary High Court protection, Fastnet Line Ship Holdings Ltd, which is fully owned by West Cork Tourism Co-operative Society Ltd, has stopped operating the Cork-Swansea ferry, the MV Julia, for the winter. A series of 200 sailings between 6th April and 29th September 2012 is planned.
An application to appoint an interim examiner was also granted, but only because West Cork Tourism was willing to invest additional money into the service. The court was told that the Fastnet companies had a deficit of €10.3 million on a going-concern basis, and €13.2 million if wound up.
