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The five companies are Whelan Group (Ennis) Ltd (WGEL); Whelans Limestone Quarries (Contracts) Ltd (WLQCL); Whelans Limestone Quarries Ltd (WLQL); Whelans Quarries (Carrigtwohill) Ltd (WQCL); and Shannon Explosives Ltd (SEL). WLQL is the principal trading company in the group and the financial survival of the other companies Gold Adidas Ultra Boost is dependent on the survival of WLQL. The Whelan group dates back to 1972 when Patrick Whelan founded WLQL. The group grew substantially over the past decades but the directors said it was Adidas Ultra Boost High

the companies time to reply to the issues raised.

Rossa Fanning, for NAMA, said this was the first petition for examinership involving NAMA and it was opposing it because a large write down of the debts of the companies' secured creditors was being proposed. Irish Cement Ltd, owed 4m of a total 10m due to unsecured creditors and Lagan Cement, owed 383,000, are also opposing examinership. The Revenue, owed 641,000, has adopted a neutral position. John Breslin, for Lagan, said it has brought a petition to wind up Whelan's Limestone Quarries Ltd (WLQL), the "engine company" of the group, and that petition has been adjourned to December 13. Mr Justice Brian McGovern yesterday adjourned the hearing of the examinership petition to Friday to allow Adidas Ultra Boost Brown

affected in.

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´╗┐aminership on Friday. NAMA has taken over some 50 million debts owed to Anglo Irish Bank by the Whelan companies and is opposing examinership because of a proposed large write down of the debts of secured creditors. Anglo was the largest secured creditor of the group, while Bank of Scotland Ireland is also owed 12m. The Whelan companies say they have a consolidated deficit of 10m as a going concern rising to about 50m if placed in liquidation. Adidas Ultra Boost Mens

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They say, if a survival scheme is approved, including a programme of cost cutting measures, sale of non core assets and outside investment, the group could return to profitability next year. Their underlying business is sound and, if examinership is refused, the prospects are "bleak" for creditors and employees.

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