Value of McInerney Homes assets 'down by a third', court hears

The High Court has heard the assets of troubled builders McInerney Homes have dropped in value by a third since entering examinership.

The group is insolvent and owes €114m to a banking syndicate made up of State owned Anglo Irish, KBC and Bank of Ireland.

A decision on whether to extend the period of court protection will be made on Monday.