Supreme Court decides against Carroll

The Supreme Court ruled today that developer Liam Carroll’s Zoe property group is not entitled to proceed any further with its bid for court protection from creditors.

The court found the group’s second case for protection was an abuse of court process.

Today, the three-judge Supreme Court granted ACC Bank’s appeal against a decision by Mr Justice John Cooke to allow Zoe bring that second application for protection.

The first application having been refused by both the High and Supreme Courts.

The ruling clears the way for a liquidator to begin selling off the companies' assets to allow ACC bank recoup €136m owed to it.

In total, the companies at the heart of Zoe owe more than €1bn to the country's banks.