McInerney Homes fails in attempt to have rescue package approved by court
One of Ireland's oldest house building companies has lost a second attempt at securing High Court approval for a rescue package for its business.
The Court has rejected proposals to try and save McInerney Homes, ruling that KBC Bank could be "unfairly prejudiced" by the scheme.
McInerney had offered to pay the banks €25m to settle debts well over four times that amount.
The Court agreed to revisit the case when it emerged some of McInerney's loans may be acquired by Nama, but the Judge ruled today the new information would not change his original decision.
