Examiner appointed to Fleming firm

AN examiner was appointed by the High Court yesterday to rescue a company within developer John Fleming’s construction group after the Dutch-owned ACC Bank failed in its bid to have a receiver appointed.

The court heard it will protect around 650 jobs in the Cork-based Fleming Group which has close to €1 billion in debts and has widespread interests in retail, residential, commercial and industrial construction as well as in the pharmaceutical and energy businesses.

Yesterday’s application for examinership, which can give up to 100 days for a company to trade out of its difficulties, was brought by one of the companies within the group, Tivway Ltd.