Carroll close to ruin after bid rejected; FINANCE.ONE of Ireland's biggest property developers was facing financial ruin last night after losing a last-ditch bid to save his business empire. Liam Carroll, the head of the Jersey-based Zoe Group, was refused a financial legal lifeline as banks chase bad loans worth EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.2billion. The embattled em·bat·tled adj. 1. Prepared or fortified for battle or engaged in battle: embattled troops; an embattled city. 2. developer had sought the protection of Dublin's High Court to stop lenders calling in loans from seven of his firms. Mr Justice Frank Clarke Frank Clarke is the name of more than one person:
The judge refused the application to appoint an examiner to seven key Zoe companies, on whose survival the entire 51-company group depends. He stressed he had made up his mind before yesterday's hearing, adding that inaccuracies in the material had just strengthened his ruling. The judge said: "It seems to me this material is presented in a poor way and doesn't allow me to analyse it the way the Chief Justice said I could, or it is plain wrong." Although he had a written ruling prepared for yesterday, Mr Justice Clarke said he must now rewrite it and deliver the reasons behind his decision at 2pm today. CAPTION(S): EMBATTLED Liam Carroll |
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