Friday April 10, 2020

Anglo refuses to back Black Shore rescue plan

Anglo Irish Bank is refusing to back a rescue plan devised to save Black Shore Holdings, the €200 million fuel, retail and hotel business, writes Ian Kehoe.

1st May, 2010

Black Shore founder John Sweeney had teamed up with DCC, the quoted investment firm, in a bid to retain control of the group, which is nearing the end of its 100-day examinership period. However, the plan has been rejected by Anglo, which is owed €50 million by Sweeney and Black Shore.

Despite the Anglo decision, the firm’s examiner, Michael McAteer, is working on a plan to rescue parts of the group that are not financed...

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