O’Brien and O’Flynn Ltd to be closed with €71m debt

The debt-ridden Cork building contracting firm of O’Brien and O’Flynn Ltd is to be wound up by order of the High Court.

Mr Justice Kevin Cross appointed insolvency practitioners John McStay and Tom Rogers as official liquidators to the company which owes Nama €71m.

He told Aidan Redmond, counsel for the National Assets Loan Management Ltd, an arm of Nama, that he was satisfied the winding up of the company was necessary and appropriate.