Monday April 6, 2020

Receiver appointed to firm in Magnier action

The High Court in London has appointed a receiver to the company at the centre of a multimillion euro case between businessman John Magnier and Laing O’Rourke, the Irish owned building firm.

14th February, 2009

Explore Investments, a special purpose vehicle established by Laing O’Rourke to complete a deal with Magnier, is now set to be wound up and its assets liquidated. Two Dutch-registered investment vehicles controlled by Magnier are the largest creditors of Explore.

The appointment of the official receiver followed a court petition by Laing O’Rourke, and comes just weeks after Magnier secured summary judgment for €3.5 million against Explore. The receiver will now organise a...

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