Anglo opposes High Court survival scheme for 2 firms

ANGLO Irish Bank, which is owed some €50 million by Galway businessman John Sweeney owned companies, is opposing survival schemes proposed by a High Court- appointed examiner for two companies in his insolvent Black Shore group.

Sweeney Oil Retail Ltd and Sweeney Oil Service Stations Ltd, which employ 37 people, including 30 full-time staff at service stations and associated retail units in Westport, Co Mayo and at Clifden and Moycullen in Co Galway.

The survival schemes were proposed yesterday by James Doherty, for Michael McAteer, the court-appointed examiner to the companies, and supported by the companies and a number of small creditors. Anglo is the largest creditor while Bank of Scotland Ireland, which had earlier opposed the scheme, withdrew its opposition.