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 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.

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.

Counsel for O’Flynn Construction companies disputed claims by the Blackstone-owned company, Carbon, in its petition to appoint an examiner, that it had not received co-operation from the O’Flynns and had no access to the necessary financial information.

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.

Why, oh why?

CARBON taxes, parking levies and congestion charges should be rolled out to help slash Ireland’s greenhouse gas emissions, a Dublin-based international think-tank said yesterday.