A winding up order has been granted to ACC bank against the Carroll group of companies, but a stay has been placed on this pending an appeal to the Supreme Court.

Mr Justice Frank Clarke also refused to extend protection of the court to the other companies which were part of the examinership application.

Counsel for the companies told the High Court yesterday that they had considered the judgment over the weekend and intended to appeal.

The court was told that the earliest the Supreme Court can sit is early next week.

The companies in the Zoe Group had applied for the protection of the court following moves by ACC Bank to recover loans of €136m.

The group's original application was turned down by the Commercial Court and the Supreme Court.

Last Thursday, the High Court refused a second application for examinership by the seven companies.

The companies involved are Vantive Holdings, Morston Investments, Villeer Developments, Paytor Developments, Carragh Enterprises, Parlez International and Royceton.

The companies have a combined debt of €1.2bn.