ACC was only one not to approve survival plan, court hears

The survival plan for three companies in the Fleming group received the unanimous support of its creditors with the exception of Dutch owned ACC bank, the Supreme Court heard today.

The Cork-based group which has interests in construction and developments has debts of some €1bn, including €260m to Anglo Irish Bank and €21.5m to ACC. The survival scheme was approved by Mr Justice Brian McGovern in the High Court, however ACC appealed the decision.