Judge orders winding up of €180m Cork-based fund BlackBee Investments

The High Court heard 'a number of directions made by the Central Bank are not being complied with’

David O'Shea, founder of Blackbee Investments. Picture: John Allen

A judge has ordering the winding up of a €180 million Cork-based investment fund after hearing that provisional liquidators have uncovered inadequate corporate governance and numerous other issues.

Mr Justice David Barniville, president of the High Court, said he thought it was “fair to say” the position of Blackbee Investments had not improved since provisional liquidators were appointed earlier this month.

He also said the concerns outlined by the Central Bank, which had applied to ...