Zoe Group 'will return to profit in 18 months'

The Liam Carroll-controlled Zoe Group will return to solvency when the Irish property market improves in 18 months time, the High Court heard today.

The beleaguered property group is for the second time seeking the appointment of an examiner, has bank borrowings of €1.2bn claimed that it will have a surplus by 2011 following the expected upturn in the global economy next year.