Cinema group settles loan challenge with liquidators

A legal challenge to moves by the liquidators of IBRC to sell a major cinema group’s €81m loans to Nama has been settled, the High Court has heard.

Cinema Holdings Ltd and Cinema Holdings Two Ltd, subsidiaries of the Isle of Man-registered Empire Cinema Group, in January sought orders blocking the sale of the loans.

The beneficial owner of Cinema Holdings, namely Thomas Anderson, claimed the transfer of the loan facilities to Nama could be disastrous for his business and employees.