Ulster Bank hold some shares as security for debts from Liam Carroll’s companies and they are taking an interest in that security now according to the Irish Times.
You’d be inclined to wonder why. Up to last week, apparently the only bank that wasn’t playing ball with the “we can trade our way out of difficulty” was ACC Bank, the irritant that insisted on requesting a liquidator through the courts and now, it appears that Ulster Bank are somewhat concerned now too.
Meanwhile, in last week’s reports regarding the next High Court Action, due on Thursday this week, Anglo-Irish Bank voiced willingness to give the Carroll companies another 8 million to fund development at North Wall.
I’m a tax payer and indirectly co-owner of Anglo-Irish Bank, which is a nationalised company. I resent them ploughing more money into a company which both the High Court and the Supreme Court have already suggested is no longer viable.
My favourite qu0te about this whole saga, from the Supreme Court Hearing incidentally was this:
Cush said there would have been no need for an examinership if ACC had not moved against the group but Chief Justice John Murray replied that that was “somewhat disingenuous” as “there would be no need for an examinership petition if the companies weren’t insolvent”.
which you’ll find in Neil Callanan’s Sunday Tribune piece.
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