Chief Executive confidant of Festival in 2004.

The Chief Executive of the Rose of Tralee says she`s confident there will be a festival in 2004 despite massive debts. Last night the festival confirmed it owes 890,000 euro. A scheme of arrangement is being put in place which involves giving creditors 30 per cent of what they are owed along with a rescue package for the festival. So far 75 per cent of creditors have given a verbal commitment to accept one third of what they are owed, but the festival will have to bring the remaining creditors on board. Siobhan Hanley says she`s confident they can avoid liquidation.