HORSE SPORT IRELAND, the all-Ireland national governing body for the equestrian sector, has gone bust.

It was yesterday given the protection of the High Court as an interim examiner was appointed in a bid by its directors to save it.

Barrister Arthur Cunningham told Mr Justice Liam Kennedy that while the company was unable to pay its debts, an independent expert was of the view that it could be saved through examinership.

He said chartered accountant Joseph Walsh had agreed to act as examiner and was appointed by Judge Kennedy on an interim basis.

The company, which employs 47 full-time workers, is highly dependent on grants from the Department of Agriculture, Food and the Marine (DAFM) and Sport Ireland which, alone, had funded the company to the tune of €2.1 million for 2026.

Cunningham said the company was recognised by Sport Ireland, Olympic Federation of Ireland, Paralympics Ireland, the Federation Equestre Internationale and Sport Northern Ireland as the national governing body for the equestrian sector in the country.

Judge Kennedy heard that historically the company had nominal reserves to insulate it against any trading issues or significant trading losses but had recently been hit by major legal costs arising from defamation proceedings.

The petition for the appointment of an interim examiner was brought by the company’s directors following a recent meeting. The main object for the establishment of the company in 2006 was to act as the centralised national body for the entire sport horse industry.

Directors listed in the petition proceedings were named as Kevin Smyth, Balally Park, Dundrum, Dublin; Allison Mercer, Whitethorn Brae, Kinallen, Dromore, Co Down; Susan Foley, Clonshire, Adare, Limerick; Karen Brosnan, Annacoil, Forenaughts, Westown, Naas, Kildare; Pamela Byrne, Ballinowlart South, Rathangan, Kildare, David Markey, Cabinteely, Dublin; Robert Huey, Knockaleery Road, Cookstown, Co Tyrone and Killian Carroll, Blackberry Hill, Carrickmines, Dublin.

It was revealed that the company had incurred costs of €1,581,995 in relation to the development of software programmes at the end of June 2026 and had ongoing obligations in relation to pension and payroll.

Cunningham said the company directors considered that the appointment of an interim examiner would be in the interests of the creditors across a number of jurisdictions, and there would be an immediate requirement to engage with them to explain the examinership process.

The interim examiner would allow an investment process to commence immediately.

The independent expert Cormac Mohan of AAB Ireland had stated that the formulation, acceptance and confirmation of proposals for a scheme of arrangement, in conjunction with the introduction of additional capital or support of DAFM and Sport Ireland, would offer a reasonable prospect of survival.

The company was confident that these conditions could be met, and the directors believed that the examinership process would afford the company a reasonable prospect of trading successfully into the future and preserve the current jobs.