The Irish High Court has adjourned for a short break before the expected ruling on the Liam Carroll controlled Zoe Group’s second attempt at securing court protection. Apparently Mr Justice Clarke wanted to allow the group a chance to explain its financial position.. Again. From the current RTÉ report
This follows detailed questioning by Mr Justice Frank Clarke on aspects of Zoe’s business plan, which he said was ‘either presented in a very poor way or is just plain wrong’. Mr Justice Clarke went on to say that he was struggling to carry out an objective analysis as laid out by the Chief Justice.
Adds Updated RTÉ report
The High Court has refused an application for examinership by seven companies controlled by developer Liam Carroll.
More From the RTÉ report
Posing in-depth questions, Mr Justice Clarke said the accounts were ‘either presented in a very poor way or just plain wrong’.
He said he took a ‘very serious view’ of how the company presented its income figures, adding that there were ‘many inaccuracies in the material.’
He said he had intended delivering a written judgment but was unable to deliver it because of the additional clarifications made by Zoe today.
However, Mr Justice Clarke said the clarifications had not influenced his view but had in fact strengthened it.