Financial firm remains protected

TROUBLED Dublin-based financial firm Structured Credit Company will continue to have the protection of the High Court until September 5.

Mr Justice Patrick McCarthy decided yesterday to continue with the interim examinership he put in place last Monday, and directed that the winding-up petition granted by Ms Justice Mary Irvine on Friday August 17, be brought forward to be heard on the same day.

Mr Edward Bowers, chief executive officer of SCC, succeeded in having the examiner appointed, after Japanese banking giant Nomura International had sought to have the company put in liquidation and after they had been granted an order appointing Simon Coyle as provisional liquidator.