THE FASTNET Line Group of companies has been placed into lnterim Examinership by Justice Peter Kelly at a sitting of the High Court.
Michael McAteer of Grant Thornton has been appointed Interim Examiner.
The Cork to Swansea Ferry, operated by Fastnet, will discontinue its full published service with immediate effect.
All booked passengers will be contacted in the coming days, with full refunds been issued.
A further hearing date of 15th November has been set by Justice Kelly upon which the Interim Examiner will present a report on progress to the court.
Mr.McAteer is hopeful that this Examinership will be resolved as quickly as possible.
About Fastnet Line:
The Fastnet Line companies are owned by the West Cork Tourism Co-Operative Society Limited which was formed in April 2009 and has over 400 members that have individually invested funds into the venture.
This is very sad news that after just two years and support from the Welsh Assembly Government the Fastnet Ferry Company has sunk. This could have been a solid li9nk between Cork and Swansea bringing in visitors for short breaks and longer. It is understood that the exit from the ferry was planned to run through the city River Tawe entrance that would have shown visitors more of the city. It is hoped that this venture can be saved and runs again from April next year.