Sunday May 31, 2020

Property firm launches legal action against Cerberus-linked vulture fund

Fortberry, where retired taxing master James Flynn is a director, has instigated High Court proceedings against Promontoria

10th May, 2020
James Flynn: the High Court rejected a proposed personal insolvency arrangement for the solicitor last year Picture: Bryan Meade

A property firm where retired taxing master James Flynn is a director has launched High Court proceedings against Promotoria, a vulture fund linked to US debt giant Cerberus.

Flynn declined to comment on the details when contacted, but court proceedings taken late last year referenced a debt of €1.65 million owed to Promotoria by Flynn as being among debts of just over €5 million owed to AIB, Promotoria and other creditors.

In that case Flynn...

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