Eircom contract void as it in Administration ?

[cashisking]

Has anyone heard anyhing on Eircom contracts for phone and Broadband being void as it in Administration.

I called Comreg, they said no. But I heard it from a lady, whose neighbour works with eirccom

 

[Daisy2012]

As far as I know, Eircom is not in administration. An examiner has been appointed to the company so business continues as normal until the examination has been done.

 

[mark1]

we got a letter to say that eircom requested that an interm examiner be appointed. according to the letter its business as usual but if we had any queries to ring or visit [broken link removed]

 

[MB05]

I work for eircom and we are in examinership. It's business as usual as far as the staff, suppliers and customers are concerned.

Eircom has money, it can pay it's day to day costs and we are continuing to plough money into investing in fibre and tv etc. As a company we are just like everyone else in this country, in negative equity. Our borrowings are more than the company is worth.

We breached some of the covenants of our loans (rather than the repayments) and the banks we owe were within their rights to call in the loans.

To protect the company and creditors they entered into this period of examinership. The aim is to burn the bondholders lower down the pecking order. The main one's take a bit of a hit and take ownership of us in the hope that we can rid ourselves of half our debt.

It's hoped we can then trade our way out of the mess we got ourselves into.