Ulster Bank moves to block Carroll share sale

Ulster Bank has reportedly moved to block any attempt by property developer Liam Carroll to sell off more half of his €67m stake in food group Greencore.

Reports this morning say a survival plan Mr Carroll is presenting to the courts includes the disposal of equity positions he holds in various companies.

The developer owns 29.5% of Greencore, but this morning's reports say the move by Ulster Bank involves its exercising of security over more than half of these shares.

This means Carroll will not be able to use his voting rights over these shares.

On Thursday, the developer is due to make a new High Court application for an examiner to be appointed to his Zoe group of companies in order to protect them from liquidation.