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O'Flynn bid to oust examiners succeeds

Wednesday, August 13 14:34:38

Michael O'Flynn's O'Flynn Group has today succeeded in removing an interim examiner and receivers appointed to some of its subsidiary companies.

Carbon Finance, a unit of Blackstone, acquired the company's E1.8bn loans from the National Asset Management Agency in May.

In the High Court today, Ms Justice Mary Irvine said Carbon Finance had not fully disclosed all the relevant information when it sought the appointment of an examiner, and did not act with utmost good faith.

On 29th July the High Court granted an ex parte application by Carbon for the appointment of an interim examiner which O’Flynn Group.

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