O’Flynn developers: Examiner move was improper

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.

The brothers are challenging the appointment last week of an interim examiner to their four key companies — O’Flynn Construction Company; O’Flynn Construction BTC; O’Flynn Construction (Rochestown); and Eastgate Developments (Cork) — on the grounds that they were insolvent.

Michael Cush, counsel for the O’Flynns, told the court yesterday that the application for examinership on behalf of Carbon Finance Ltd, a Dublin-registered affiliate of Blackstone, was part of the US company’s objective to gain control of the O’Flynn Group, particularly its valuable assets.