Liam Carroll’s companies were back at the High Court yesterday for round 2 of “Please Give Us Examinership”.
The High Court said no, and the written judgment from Justice Clark is due out this afternoon some time.
The reaction – again – has been very interesting. When the first case followed by the Supreme Court case was heard, it didn’t feel like that many people were discussing the ramifications of the Zoe companies not getting court protection although it was headline news at the time.
This time, a huge number of people are interested, discussing what happens next. A lot of people on politics.ie are convinced that the banks who may be protected by NAMA will buy out ACC’s 136 million euro debt. But if that was likely to happen, it would have happened last time round so there is clearly something in the way.
There has been a provisional liquidator in place since the last Supreme Court hearing and the next question is whether the High Court will give Liam Carroll’s companies the leave to go back to the Supreme Court.
Two national newspapers are running with the story that this should see Liam Carroll’s business empire unwind. I am just not sure over what time frame, that’s all. The business he operates in is currently basically dead right now.
So, we continue to live in interesting times…
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