Carroll to mount fresh bid for court protection
Property developer Liam Carroll is reportedly set to make a fresh bid for court protection today in a last-ditch effort to prevent the collapse of his property empire.
Reports this morning say lawyers for Mr Carroll will present a plan to the High Court based on new figures for properties in his Zoe Group of companies.
The court refused to put the group into examinership earlier this month to protect it from ACC Bank, which is seeking repayment of €136m worth of loans.
The developer appealed the decision to the Supreme Court, which upheld the ruling earlier this week, saying there was no evidence that the Zoe companies could survive into the future.
A provisional liquidator was appointed to the Zoe Group two days ago.
However, this morning's reports say Carroll's lawyers intend to use a clause in the Companies Act allowing three days from the time a provisional liquidator is appointed to make a fresh bid for protection under a revised plan.
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