Banks owed €113m by McInerney Homes oppose examinership process

THREE banks owed tens of millions of euro by house builders McInerney Homes opposed the firm and related companies being allowed go into examinership, the High Court has heard.

The syndicate of three banks – Anglo Irish Bank, Bank of Ireland and KBC – which are owed approximately €113 million by McInerney, also told the court they will not support any rescue plan for the housebuilders because they do not believe such a scheme will succeed.

However, the firm disputes the bank’s argument and argued before Mr Justice Frank Clarke that it was an “ideal candidate” for an examinership.