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.

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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)