Apparently Zoe Group’s request for examinership is all about the public interest. The Irish Times reports:
The public interest is “at the forefront” of the bid for court protection by key companies in Liam Carroll’s troubled Zoe property group, the High Court was told today as it reserved to Thursday its ruling on their unprecedented second application for examinership.
Urging the court to appoint Ray Jackson examiner, Bill Shipsey SC said the interests of the wider community had never been “so much to the fore” in any application for court protection although there was no one arguing the public interest in this case except the companies themselves.
It was of “enormous signficance” the vast majority of the group’s banker creditors either supported or did not object to protection and Dutch-owned ACC Bank only got “Dutch courage” to oppose protection after the High Court rejected the first bid for examinership, he said.
Words temporarily fail me. But I’d be interested in your thoughts.