McInerney shareholder granted second EGM

REBEL shareholder David Nabarro has won his appeal for a second extraordinary general meeting to be held to allow shareholders vote on the future of McInerney Holdings.

Earlier this month, the current board of the Dublin-headquartered house-building group informed shareholders of its intention to wind down the company through a voluntary liquidation process, saying that it had “no realistic alternative” as the business no longer has any “meaningful assets of worth”.

The debt-ridden property company has outstanding loans of around €113 million to a three-bank consortium of Bank of Ireland, Anglo Irish Bank and KBC Bank.