An application to have an examiner appointed to six companies controlled by property developer Liam Carroll has been adjourned until tomorrow.
Ten days ago, lawyers representing Vantive Holdings, Jersey registered Morston Investments and four other related companies in what is known as the Zoe Group, sought High Court protection after ACC Bank moved to recoup €136m in unpaid loans it is owed by the companies.
This morning, the Commercial Court was due to hear the full application for the appointment of an examiner to the six companies.
However Mr Justice Peter Kelly said that owing to the length of today's list, he would adjourn the hearing until tomorrow morning.
Before doing so, Mr Kelly heard from Senior Counsel Michael Cush for the companies, that eight banks owed money by the companies had been served with notice of their intention to go into examinership.
The court heard that ACC Bank is adopting a 'guarded neutral' position on the examinership plan.
It was also told that Anglo Irish Bank, which has 3.1% of the debt, had adopted a 'neutral' position on the plan.
The court heard that Bank of Scotland Ireland, which is owed 26.8% of the total group debt of €1.1bn, had no objection to the petition.
There was also no objection voiced in court from EBS, KBC, AIB, Ulster Bank and Bank of Ireland, which are also owed money.
The court was told that advertisements had appeared in newspapers here and in Jersey, giving notice of the companies’ intentions to seek the appointment of an examiner.
Before adjourning, Mr Kelly confirmed the court's protection on all six companies.
