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Only hope of project being revived is via successful application for judicial review of Minister’s decision
Judge told petitioner has a ‘fairly deep pocket’ to potentially fund Barryroe’s future activities
Company is running out of cash and had been seeking fresh funding
Oil explorer had been seeking to raise fresh funds from major shareholders before a planned extraordinary general meeting on Monday aimed at putting the company into liquidation
Department of the Environment has previously noted that ‘extensive engagement’ occurred ‘over several years’
Firm and largest shareholders weighing pursuit of judicial review after Minister’s refusal of permit for Barryroe prospect
Barryroe Offshore Energy investors only have weeks to decide whether to fund the company to pursue a legal case against the Minister after he pulled plug on its key oil and gas prospect
Company says it will continue to pursue funding solutions up to date of EGM as it suspends trading in shares
Rival ABP Food Group has separately acquired two meatpacking sites in Scotland
Brothers sold stake in Slaney Foods for a reported €250 million in 2016
Minister did not grant permit to progress work on gas and oil field off Cork coast
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Businessman already committed to €40m backstop to cover next phase of development at prospect
Shares in Barryroe Offshore Energy plunge 49% while minority partner in oil project off Cork coast, Lansdown Oil & Gas, slumps 53%
Funds being raised in addition to €40m convertible loan-note arrangement with investors led by Larry Goodman
Vevan Unlimited has reached accord on sub-allocation of portion of loan notes with certain shareholders
Family-owned group reports €1.2m pretax loss after costs associated with landlord row
Revenues increase by 75% at Wexford Beef & Lamb over 18 months
Major shareholders in oil explorer are in talks to cover some of the €40 million funding Larry Goodman has committed to company
Previous application for a mixed-use scheme was rejected
Crosswords & puzzles to keep you challenged and entertained
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