An extraordinary general meeting of property developer Dunloe Ewart has defeated a proposal to buy out British Land’s 50 per cent interest in the Cherrywood mixed use development in Dublin.
Dunloe, which already owns 50 per cent of Cherrywood in south Dublin, said 56.95 per cent of votes cast opposed the purchase.
Earlier today at a hearing of the High Court Mr Liam Carroll obtained restoration of voting rights attaching to his shares.
Mr Carroll who owns 28.5 per cent of Dunloe worth close to €40 million, is the company’s largest single shareholder.
The company last month removed his voting rights as he had failed to reply to a query concerning his interest in the company. Dunloe Ewart used section 79 of the Companies Acts 1990 to remove Mr Carroll's voting and other rights.