Companies in the Blackstone Private Equity group have asked the High Court to strike out claims that they conspired to take over several companies of brothers Michael and John O’Flynn.

Cork brothers Michael and John O’Flynn have told the High Court they would not be maintaining allegations of wrongdoing against four receivers appointed to their companies by Blackstone subsidiary Carbon Finance.

The debt-ridden Cork building contracting firm of O’Brien and O’Flynn Ltd is to be wound up by order of the High Court.

Cork building firm O'Brien and O'Flynn is to be wound up over a €71m debt to Nama.

A petition to wind up the Cork building contracting firm O’Brien and O’Flynn Ltd, which owes Nama €71m, has been adjourned for a fortnight after a judge heard that "not all of the facts" had been presented to the High Court.

The private equity firm that briefly seized control of the O’Flynn Group has been forced into retreat and dressed down for failing to disclose key pieces of information to the High Court.

Cork brothers Michael and John O’Flynn have succeeded in removing the interim examiner appointed to four key companies in their construction group and have been put back in charge of their business.

The brothers still face a battle to retain control of their building firm, writes Conor Ryan

Cork developer Michael O’Flynn has upped the ante in his battle to retain control of his building empire by revealing he can immediately repay the €16.7m in personal loans as demanded by the company who took over his Nama loans — and also the remaining €8.2m he owes in personal loans.

The High Court will decide next week if it will dismiss an interim examiner appointed to four main companies in the Cork-based O’Flynn Construction Group.

Examinership would undoubtedly be of benefit to the four insolvent Cork-based O’Flynn construction companies and for the benefit of their employees, the High Court has been told.

Developers Michael and John O’Flynn will continue their legal battle in the High Court today against what they call an “improper” attempt by US investment giant Blackstone to take over the O’Flynn Construction Group.

Four key companies in the Cork-based O’Flynn construction group have claimed a petition for appointment of an interim examiner to them is part of an improper attempt to take over the O’Flynn group.

The company that bought the €1.8bn debts of the O’Flynn Construction Group for just over €1bn has secured the appointment of an interim examiner for four key companies within the group.