O’Flynn puts Blackstone on the back foot after ruling

The private equity firm that briefly seized control of the O’Flynn Group has been forced into retreat and dressed down for failing to disclose key pieces of information to the High Court.

Ms Justice Mary Irvine said Blackstone and its subsidiary, Carbon Finance, had not acted in good faith when it applied for interim examiners to be appointed to €1.4bn worth of loans.

She said an inaccurate impression had been created that the O’Flynn Group and its principal shareholders, Michael and John O’Flynn, were uncooperative.