The High Court has approved a scheme of arrangement aimed at allowing one of Munster’s biggest construction firms to continue to trade.

Ms Justice Mary Laffoy yesterday formally approved the scheme, under section 201 of the Companies Act, whereby unsecured creditors of John F Supple Ltd will receive up to 75c in the euro. The company has around 100 employees.

Some 250 unsecured creditors of the firm are owed €14.4 million. A large majority of them supported the scheme at a meeting last month, with just nine voting against.