ACC claims Fleming Group survival plan lacks 'financial support'

The survival scheme for the Fleming construction group which has debts of €1bn does not contain any commitment of continuing financial support from its banking creditors, the Supreme Court heard today.

In its appeal to the Supreme Court against the High Court's decision approving a ten-year rescue plan for three companies in the group, ACC have claimed that there there is no evidence that other banks, Anglo Irish Bank Bank of Scotland Ireland and AIB, will provide working capital required to save the group.