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Threat to Fleming group

THE future of one of the country's largest building groups is under threat following the Supreme Court's decision to reject a restructuring plan.

ACC Bank will ask the High Court to wind up three insolvent companies in the Fleming building group, which has debts of more than €1bn, including €260m owed to Anglo Irish Bank.

Last July, the companies applied for and received High Court protection, when ACC moved to recoup its money and the examiner's plan was approved by the High Court. However, the Supreme Court overturned the decision to approve a survival plan yesterday.