Court appoints liquidator to Fleming

A LIQUIDATOR was appointed by the High Court yesterday for the winding up of three insolvent companies in the Cork-based Fleming building group, which has debts of more than €1 billion.

The move followed a unanimous decision of the five-judge Supreme Court to refuse court protection for the group after finding the proposed survival schemes for John J fleming Construction (JJFC), JJ Fleming Holdings (JJFH) and Tivway did not amount to a plan with a reasonable prospect of survival as “going concerns”.

On the application of Paul Sreenan, for the ACC bank, which is owed €22 million, Mr Justice Brian McGovern made an order appointing chartered accountant Tom Kavanagh as liquidator.