Carroll’s survival plan ‘lacking in reality’

A JUDGE yesterday described as “lacking in reality” a survival scheme put forward by companies in Liam Carroll’s Zoe building group as he refused to grant the companies court protection. The continuing battle over the companies’ debts of €1.2 billion is heading for the Supreme Court next week.

Mr Justice Peter Kelly, in the High Court, described as “fanciful” survival proposals heavily dependent on a greatly improved property market which suggested the companies could turn a €1.2bn deficit into a €300 million surplus within three years.

He granted “with misgivings”, a stay on his refusal pending an appeal to the Supreme Court on Tuesday.