RCC Engineering, which was set up in 2005 and has turnover of more than €10 million, entered Scarp in early August after falling into financial difficulty with €5.2 million of liabilities.
A company controlled by RCC directors Liam Hickey and Michael Rogers also made a small investment as part of the restructuring, according to the documents. The plan received more than 90 per cent support from creditors last month, well in excess of the 60 per cent in number necessary to push through a Scarp restructuring. Law firm Mason Hayes & Curran also advised on the process.
“We would, however, impress that time is of the essence and if your business is experiencing difficulties we recommend early engagement with an experienced insolvency practitioner.”
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