Wooldridge was one of three men who died in the crash in October 2010.
At the time of the tragedy he ran the Surrey based demolition and construction specialist the Wooldridge Group with his brother Graham.
An inquest in Belfast today heard the helicopter crashed in an area known locally as Leitrim Lodge, between Hilltown and Rostrevor.
A lawyer for the inquiry, Ronan Daly, told the inquest in Belfast that the helicopter had a ground proximity warning system.
The BBC reported him as saying: “It was not actually in use, it was not the requirement for a helicopter to operate that it should be using the system and the alerts that the system would (produce) could be regarded as a nuisance to those on board.”