Thirty of the 52 workforce paid off last month at a Co Donegal coach building firm have been re-employed, the High Court has been told.
Gary McCarthy, counsel for Euro Iompu Teoranta, told Mr Justice Paul Butler it was hoped that under a successful examinership more of the workers, who were laid off on August 31st, would get their jobs back.
The court appointed Ken Fennell, of Kavanagh Fennel, chartered accountants, Pembroke Road, Ballsbridge, Dublin, as examiner in a bid to save the cash-strapped company.
Euro Iompu Teoranta is the leading manufacturer of buses in Ireland and builds buses and coaches at its base at Udaras na Gaeltachta Business Park, Gweedore, Co Donegal. Mr Mc Carthy said it had been suffering losses since 2003 because of increased competition from low cost economies and a change of company policy to manufacture 13 separate types of coaches.
He said the examiner would look at offers from local investors and would consider moving the company back towards a core business of concentrating on the construction of only two or three coaches including school buses.
Mr Justice Butler said he was satisfied the prognosis for the company was one in which it stood a good prospect of survival under examinership.