The Board of Horse Sport Ireland has today [August 24] presented a petition to the High Court seeking the appointment of an Examiner, and an Interim Examiner has been appointed following an order of the High Court.The decision follows the crystallisation of a substantial legacy liability relating to the defence of a longstanding legal action brought by Studbook Development Ireland Limited t/a Warmblood Studbook of Ireland against various defendants, including HSI.Having considered all the available options, and taken professional legal and financial advice, the Board believes that Examinership provides the best available opportunity to protect the organisation, preserve employment and secure its long-term future.Horse Sport Ireland continues to operate, and management will work constructively with the Examiner, employees, funders, creditors and other stakeholders throughout the process.Examinership is a statutory corporate rescue process and is intended to provide a viable company with an opportunity to restructure its affairs under the protection and supervision of the Court.As the matter is now before the Court, it would not be appropriate for the Board to comment further on the circumstances giving rise to the proceedings or on matters that may fall for consideration by the Court.The Board will provide further updates when it is appropriate to do so.The post HSI statement regarding appointment of examiner appeared first on .