Judge to review refusal to approve rescue plan for McInerney firms
Mr Justice Frank Clarke said he would review his decision because information that loans obtained by the group from a banking syndicate are likely to be transferred to NAMA was a material fact that was not before the court before prior to his decision to refuse to confirm a scheme that would have allowed the two firms in the group to continue to trade.
The judge had refused to confirm the scheme in relation to McInerney Homes and McInerney Contracting on grounds it was “unfairly prejudicial” to a syndicate of three creditor banks, Anglo Irish Bank, KBC and Bank of Ireland, which between them are owed more than €110 million by McInerney.
