O’Flynns withdraw claims against receivers

Cork brothers Michael and John O’Flynn have told the High Court they would not be maintaining allegations of wrongdoing against four receivers appointed to their companies by Blackstone subsidiary Carbon Finance.

Cian Ferriter, counsel for the receivers, said the O’Flynn brothers and their companies had agreed not to maintain a claim for damages against the receivers whether the court eventually determined they had been validly appointed or not.

Mr Ferriter, who appeared for Paul McCann, Patrick Dillon, Mark Byers and Marcus Wide, told the court that “no allegations of dishonesty, bad faith, acting for improper purpose, conspiracy or intentionally acting unlawfully” were being maintained against them.