The examiner of three companies in the building group owned by developer John Fleming has warned creditors that if a legal claim by ACCBank is successful they will be paid significantly less under the rescue plan.
The court will decide at the hearing whether to approve the plan for the group, which has debts of €1 billion, employs 650 people and comprises 31 companies.
ACC failed to prevent the appointment of an examiner to another company controlled by Mr Fleming called Tivway last August as it attempted to recover loans of €21.5 million owing on a development in Sandyford, Co Dublin.
Article Published: 06/11/2009