McInerney to seek court examinership

Dublin: House builder McInerney Holdings is set to apply for court examinership to force banks to write down its debts.

The company owes Bank of Ireland and Anglo Irish Bank a combined €236 million, according to Bloxham Stockbrokers.

This application is the first to contest a NAMA ban which bars banks from writing down loans going to NAMA or loans connected with the agency.

Bloxham said in Britain the company is discussing the write-down of its €125m debt with British lenders, where a 30% discount may be approved.