The chief executive of the company which owns home furnishings and accessories store Meadows & Byrne is entitled to exercise a 51% voting right to increase the number of directors on the firm’s board, the High Court has ruled.

The Blarney Woollen Mills Group is “trading successfully” and recorded “substantial” earnings last year.

BLARNEY Woollen Mills has denied its decision to take the company private has anything to do with paying tax to the Irish exchequer.