Ulster Bank Moves To Limit Carroll

Any attempts by troubled developer Liam Carroll to sell the majority of his holdings in a food firm will be blocked by the Ulster Bank, according to reports.

The bank will reportedly stop Mr Carroll from cashing in more than half of his €67m stake in Greencore.

According to reports today, a survival plan Mr Carroll produced to the courts includes the disposal of equity positions he holds in various companies.


However, Ulster Bank is expected to exercise right of security over more than half of Mr Carroll's 29.5% ownership in Greencore.

This means the developer will not be able to use his voting rights over these shares.

Mr Carroll is due to make a new High Court application later this week for an examiner to be appointed to his Zoe group of companies in order to protect them from liquidation.

(PR/BMcC)