Further information sought on value of McInerney assets

A HIGH Court judge wants more information on valuations of properties owned by the troubled McInerney construction group before a hearing takes place on a rescue plan for the group.

Mr Justice Frank Clarke said he wants to have the confidential information today before he decides whether it could be released to a syndicate of three banks owed more than €114 million and who are opposing McInerney going through the examinership process. He said he would continue to extend the protection of the court until Friday when a full hearing of the matter is scheduled to take place.

Five McInerney companies have been under High Court protection from creditors since late August, when William O’Riordan was appointed examiner.