Galway Bay fm newsroom - An interim examiner has been appointed to the 5-star G Hotel in the city and the nearby Eye Cinema.
A receiver was appointed by Deutsche Bank to the properties in the past week, but owner Gerry Barrett applied to the High Court to have an interim examiner appointed.
According to today's Irish Independent, representatives from KPMG arrived at the G Hotel, Lough Atalia as a wedding reception was getting underway last week.
Deutsche Bank has been the main lender to the companies since 2015, when it acquired the loan book from NAMA.
Staff at the hotel were concerned about the arrival of the receivers last week and contacted owner Gerry Barrett.
He arrived at the hotel and asked the representatives of KMPG and Choice Hotels, who were the intended group to take over administration of the hotel, to wait until the wedding guests were settled before intervening.
However the request was not entertained.
In court this week, Gerry Barrett said he has huge concerns about Choice Hotels wanting to immediately contact clients who have booked weddings at the hotel to inform them that a receiver had been appointed.
Mr. Barrett said that should be done by the existing hotel sales team to reassure clients that it's business as usual.
Gerry Barrett also raised concerns about the operator selected to run the administration of the Eye Cinema - it's main rival IMC Cinemas.
He says IMC would be able to take the intellectual property of the successful cinema at Wellpark, which would destructive to the Eye Cinema.
In the High Court, Justice Charles Meenan granted the application for an interim examiner to be appointed to 7 of Gerry Barrett's companies.
It means they will have protection from Deutsche and their other creditors for a period of 100 days.
