The High Court has confirmed a scheme of arrangement that will see an offshore company linked to Larry Goodman invest €6.05 million in the oil and gas exploration company, wiping out the shareholdings of more than 10,000 existing investors.
The majority owner of the Barryroe oil field off the coast of Cork staved off bankruptcy with an examinership bid last July. Now Larry Goodman plans to green the company in an investment plan before the High Court.
The High Court heard the oil exploration company has a skillset in relation to the exploitation of natural resources that is capable of being applied to the green energy sector as well as the fossil fuel industry, and appointed an examiner.
The majority owner of the Barryroe oil field off the coast of Cork was due to go into liquidation on Monday, until a dramatic High Court move.
The performance of companies acquired by Larry Goodman from fellow beef baron Bert Allen in recent years allows a rare insight into the otherwise secretive ABP Food Group. Its Wexford-based beef and lamb business is the latest to disclose information.
Denis O'Brien owns the Beacon Hospital, while Larry Goodman controls the Blackrock Clinic. So, what was the investment rationale for two wealthy tycoons to invest in private healthcare?
Urban Life, the housebuilding business run by Larry Goodman Jnr, has recovered from a 2020 slump thanks to a €20 million cash cushion and access to the family’s finances.
A large volume of shares in the owner of an oil field worth billions off the coast of Cork has just been acquired by one buyer. The seller of these shares has previously sold to Goodman and may have done so again.
Liquidator Myles Kirby has made a secret US move against Chicago based surgeon Joseph Sheehan over the alleged dissipation of €3.25m in Irish company assets. Evidence from a number of former directors may be subpoenaed.
With its robust performance, it is easy to see why there was a five year battle for control of the Blackrock Clinic. Now, thanks to a capital injection by Larry Goodman, it has paid off all of its €34 million bank debt.
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