High Court to revisit McInerney rescue package
The High Court has decided to revisit its decision not to save one of Ireland’s oldest homebuilders.
The court ruled against the examiner's rescue package for McInerney on the grounds it would unfairly prejudice the firms' banks who are owed €113m.
It has since been told that proposals put forward by the bank for an 11-year receivership model are no longer credible because Nama is likely to acquire the loans from Bank of Ireland and Anglo Irish.
Mr Justice Frank Clarke says the balance of justice requires that the matter should be reopened, with further submissions from the parties next Friday.
