Examiner ‘will benefit O’Flynn companies’

Examinership would undoubtedly be of benefit to the four insolvent Cork-based O’Flynn construction companies and for the benefit of their employees, the High Court has been told.

Eoin McCullough, counsel for Carbon Finance Ltd which was last week granted the appointment of an interim examiner to the companies, made the point when opposing a bid by brothers, Michael and John O’Flynn, to overturn the appointment.

Mr McCullough said the alternative was to leave the companies, if not in examinership, open to the strong risk at any stage of insolvency proceedings that would attack all of their assets.