A Supreme Court decision has cleared the way for the Revenue Commissioners to continue its pursuit of a number of wealthy taxpayers whom it believes engaged in elaborate “straddle” transactions for tax avoidance purposes.

A High Court ruling concerning an alleged tax avoidance scheme could yield up to €110m in tax payments to Revenue from 26 wealthy individuals.

AN order winding up Pierse Contracting and Pierse Building Services with the loss of 109 jobs was made at the High Court yesterday after the heavily insolvent companies withdrew their petition for examinership.

THE High Court has appointed an interim examiner to one of the state’s largest construction firms, Pierse Construction, after being informed that an independent accountant’s report revealed the firm has a reasonable prospect of survival.