Bid to have hospital’s backers wound up

AN investment advisory firm involved in a €90 million private hospital development in Cork city has petitioned the High Court to wind up the hospital’s backers, Sheehan Medical Ltd.

The petition, lodged by Dublin-based company Investor First, is due to be heard next Monday in the High Court.

Investor First, run by businessman James Carroll, had previously succeeded in securing a judgment against Sheehan Medical Ltd for €526,350. In April, solicitors acting on behalf of Investor First successfully argued that money was owed for services provided in sourcing the building that housed the Cork Medical Centre (CMC). CMC opened in Mahon in Cork city last October, and closed less than six months later with the loss of 75 jobs. Sheehan Medical Ltd blamed the closure on the refusal of the VHI to provide cover at the facility.