Court overturns order dissolving Siteserv

A High Court judge has overturned an order dissolving Siteserv, the firm whose sale by State-owned IBRC to a company of billionaire businessman Denis O’Brien is being investigated by a commission of inquiry.

Mr Justice Michael White was told an application for an order voiding the dissolution was being made by Kieran Wallace in his capacity as liquidator of Siteserv and following a request of Judge Brian Cregan, who is heading the commission.

The commission is inquiring into 38 transactions involving IBRC where there were writeoffs of €10m or more on loans. The transactions include the sale of contracting firm Siteserv to Mr O’Brien’s company, Millington, with a writeoff of €119m.