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05/03/2010
Supreme Court Removes Fleming's Protection
The future of a Co Cork building company is under thread after the Supreme Court overruled a High Court decision to approve a survival plan for the firm.
The Fleming Group has collective debts of €1bn.
Last year, the High Court appointed an examiner to attempt to devise a plan to secure the future of the beleaguered company. However, the Dutch-owned ACC Bank, which is owed over €21m, challenged the decision in the Supreme Court, arguing that the plan contained no commitment of continuing financial support from its bank creditors and amounted to a "personalised NAMA".
The Supreme Court has now granted this appeal, effectively withdrawing court protection for the Fleming Group.
The case will now go back to the High Court for a winding up order to be made.
The massive debts accrued by the company - controlled by Cork developer John Fleming - include €260m owed to Anglo Irish Bank.
(NS/BMcC)
The Fleming Group has collective debts of €1bn.
Last year, the High Court appointed an examiner to attempt to devise a plan to secure the future of the beleaguered company. However, the Dutch-owned ACC Bank, which is owed over €21m, challenged the decision in the Supreme Court, arguing that the plan contained no commitment of continuing financial support from its bank creditors and amounted to a "personalised NAMA".
The Supreme Court has now granted this appeal, effectively withdrawing court protection for the Fleming Group.
The case will now go back to the High Court for a winding up order to be made.
The massive debts accrued by the company - controlled by Cork developer John Fleming - include €260m owed to Anglo Irish Bank.
(NS/BMcC)
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State Agrees To Pay Half Of Right-To-Die Case Costs
The majority of the bill for an unsuccessful legal challenge over the right to die will be paid for by the State. Marie Fleming, who died last month, lost her challenge over the right to die when the Supreme Court dismissed her action. Following her death the court today agreed to delay drawing up a costs order until her estate is constituted.
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Right-to-die campaigner Marie Fleming has died overnight, aged 59. Ms Fleming had brought a right-to-die case to the Supreme Court in April this year, arguing that he partner, Tom Curran, should be allowed to help her end her life without fear of prosecution.
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