Court restores O'Flynns to control of property empire

The High Court has stood down the appointment of an interim examiner to the €1.8bn O'Flynn property empire.

In a ruling today Judge Mary Irvine restored Michael O'Flynn and his brother John to control of their companies.

In July, Blackstone, the owners of loans backing the O'Flynn business, secured the appointment of an interim examiner and receivers to some of his companies.

Judge Irvine said Blackstone had failed to show there was no co-operation from the O'Flynns in relation to the financial affairs of the company.

A full hearing of the case will take place in October.