McInerney hearing set for December 20
Mr Justice Peter Kelly hoped all parties will know all information when the matter comes for hearing before his colleague Mr Justice Frank Clarke on December 20.
The examiner, William O’Riordan, had prepared an up-to-date report for presentation to the court along with a schedule of exchange of documents and an affidavit would be supplied by the examiner relating to material he believed was relevant to the hearing, Eoin McCullough SC, for Mr O’Riordan said yesterday.
The McInerney examinership is now only dealing with two of the five companies which filed for court protection last August.
A liquidator was appointed last week to McInerney Construction (Holdings) Ltd, and McInerney Contracting Dublin Ltd when the court was told the examiner was not including them in his survival proposals.
Two others, McInerney Homes Ltd and McInerney Contracting Ltd, largely involved in house building, are being included in the survival scheme while the fifth, McInerney Holdings plc, now had sufficient resources to continue on in business, the court heard.
Yesterday Rossa Fanning BL, for a syndicate of three creditor banks owed €116 million by McInerney, and strongly opposing the examinership process, said he was not satisfied about the schedule for exchange of documents, particularly as there was a dispute about how property valuations for the group were arrived at.
John Hennessy SC, for the two McInerney companies, said they were supporting the examiner’s schedule. The judge extended protection for the companies to December 20.
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