Three Local Authorities in the South-West are to be asked to find approximately €500,000 to help restart the Cork-Swansea ferry link.

Representatives from Fastnet Line Ship Holdings Ltd are expected to attend a special meeting of Cork County Council next Monday at which they will outline a business plan for the company, which is in examinership.  They will also address a scheduled meeting of Cork City Council later the same day and are expected to communicate their request to Kerry County Council shortly.

Earlier this week a High Court judge agreed to extend court protection for the company to the maximum period of 100 days, which will expire next month. It is expected that the examiner, Michael McAteer, will return the High Court on Feb 8 in the hope that he will be able to convince Mr Justice Peter Kelly that he has the necessary funding to secure the company’s survival.

The company has raised only part of the €1.6m it needs to restart the service and it is hoping that local authorities here and in Wales will bridge the gap.