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.

THE High Court approved a 10-year rescue plan for three companies in the Fleming Construction Group, which has debts of €1 billion.

A High Court judge will decide on Monday if he is to extend court protection from its creditors to the parent companies of a firm within the John J Fleming Construction group.

IN his business section column (July 25), Brian O’Mahony probably raises the question that’s on everyone’s mind: what about everything else besides the banking crisis? What about unemployment, Bord Snip, Lisbon II, the property crash, schools and garda stations closing, our senior citizens, medical card and health cuts, as well social welfare, children’s allowance cuts, etc.

Rumours are rampant that our largest developers are transferring properties to spouses and relatives to circumvent “personal guarantees” being invoked to seize their lucrative personal assets

WITH €1 billion in debts and 650 jobs at stake, Cork developer Fleming Construction has been given breathing space after an examiner was appointed to one of its indebted subsidiaries.

AN examiner was appointed by the High Court yesterday to rescue a company within developer John Fleming’s construction group after the Dutch-owned ACC Bank failed in its bid to have a receiver appointed.

EXPOSURE? It is a long way from the exposed West Cork coastline and the scenic Seven Heads to money-mill windfarms in the mid-west of the United States of America, but that’s just one of the journeys taken by John Fleming.