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...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 3 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago