a) The grounds for appointing an examiner; b) The likelihood that an examiner would be appointed in this case having regard to relevant case-law in Ireland.

Rosse Hotels Limited trading as Rosse Hotel has been in business for some years. The hotel employs seventy people, many of them local and thirty-five on a full-time permanent basis. A substantial refurbishment to the hotel two years ago cost signicantly more than anticipated. The hotel experienced difficulties in repaying the interest on its loan payments as it had been heavily reliant on English tour buses which had failed to materialise with the post-Brexit referendum. In addition, the hotel owes a number of creditors who are becoming increasingly anxious about the prospect of being paid. The hotel is also in discussion with the Revenue Commissioners to whom it owes money. However, the hotel has recently received a large number of bookings from French and American tour companies and is condent that Summer 2013 will be very successful. In addition, it has thirty wedding bookings, which will cover the loan payments. The Board of Directors of Ross Hotels Limited is concerned that an application may be made to the courts for the appointment of a liquidator by one or more of the creditors to whom substantial sums of money are owed. The Board proposes petitioning the court for the appointment of an examiner