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10/09/2009
Decision Due On Zoe Group Survival
Developer Liam Carroll's Zoe group is today waiting to hear in the High Court whether it will survive, for the second time.
The High Court is expected to announce its decision today on whether to appoint an examiner to the powerful Irish property developer's troubled Zoe group.
This unprecedented second appeal for examinership status is opposed by Dutch-owned ACC Bank, who had earlier described the eleventh hour attempt at survival against billion euro debts as "aspirational".
Seven companies owned by the property developer are part of the high profile application for examinership before the High Court, which would allow Carroll time to hold back his debtors and stave off the decimation of the group, which is believed could result in the failure of the 51 company empire in the wider Zoe group.
The companies have debts of €1.2bn, but under a business plan submitted as part of its application, Zoe believes it can meet its debts over a three to five year period.
Part of the plan includes the non-payment of interest for two years on its debts owed to eight banks.
The application is opposed by ACC Bank, which is owed €136m.
Zoe's original application was turned down by the Commercial Court and an appeal to the Supreme Court was also rejected.
(DW/KMcA)
The High Court is expected to announce its decision today on whether to appoint an examiner to the powerful Irish property developer's troubled Zoe group.
This unprecedented second appeal for examinership status is opposed by Dutch-owned ACC Bank, who had earlier described the eleventh hour attempt at survival against billion euro debts as "aspirational".
Seven companies owned by the property developer are part of the high profile application for examinership before the High Court, which would allow Carroll time to hold back his debtors and stave off the decimation of the group, which is believed could result in the failure of the 51 company empire in the wider Zoe group.
The companies have debts of €1.2bn, but under a business plan submitted as part of its application, Zoe believes it can meet its debts over a three to five year period.
Part of the plan includes the non-payment of interest for two years on its debts owed to eight banks.
The application is opposed by ACC Bank, which is owed €136m.
Zoe's original application was turned down by the Commercial Court and an appeal to the Supreme Court was also rejected.
(DW/KMcA)
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15 September 2009
Judge To Rule Again On Zoe Protection
Eamon Carroll's troubled property group Zoe is to go back to the High Court today to find out if it will be allowed a fourth bid to gain court protection. Mr Justice Frank Clarke last week again rejected an application from the heavily indebted group for the appointment of an examiner to seven of the Zoe companies.
Judge To Rule Again On Zoe Protection
Eamon Carroll's troubled property group Zoe is to go back to the High Court today to find out if it will be allowed a fourth bid to gain court protection. Mr Justice Frank Clarke last week again rejected an application from the heavily indebted group for the appointment of an examiner to seven of the Zoe companies.
11 September 2009
Zoe Group Denied Protection Of Courts
Developer Liam Carroll's Zoe group has failed to secure High Court protection against its circling creditors.
Zoe Group Denied Protection Of Courts
Developer Liam Carroll's Zoe group has failed to secure High Court protection against its circling creditors.
12 August 2009
Shares Sprial Downwards As Carroll Empire Crumbles
Bank shares have tumbled as a court ruling removed protection from the property empire of developer Liam Carroll. Shares in Bank of Ireland and AIB fell this morning following the Supreme Court ruling yesterday that ended court protection for six of developer Liam Carroll's companies. So far Bank of Ireland shares have fallen by 5.
Shares Sprial Downwards As Carroll Empire Crumbles
Bank shares have tumbled as a court ruling removed protection from the property empire of developer Liam Carroll. Shares in Bank of Ireland and AIB fell this morning following the Supreme Court ruling yesterday that ended court protection for six of developer Liam Carroll's companies. So far Bank of Ireland shares have fallen by 5.
29 September 2010
Callely Court Date Set For Next Week
The next hearing of Ivor Callely's case against the Seanad Committee over his expenses claims has been scheduled for next Tuesday. Senator Callely took the proceedings after being suspended from the Seanad by the committee for 20 days over a number of allegedly fraudulent expense claims.
Callely Court Date Set For Next Week
The next hearing of Ivor Callely's case against the Seanad Committee over his expenses claims has been scheduled for next Tuesday. Senator Callely took the proceedings after being suspended from the Seanad by the committee for 20 days over a number of allegedly fraudulent expense claims.
05 March 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.
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.
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