Construction firm says it was badly affected by the pandemic restrictions on the construction sector
It also sustained significant losses on its involvement in a project in Liverpool in England. It advanced £14 million in loans to a related company to pay subcontractors on the job and these loans are not likely to be recovered, the court heard.
The court was told on Wednesday that no creditor was objecting to Mr Wallace being appointed as examiner. Mr Justice Michael Quinn was satisfied he had jurisdiction to appoint the examiner to Newry-registered MAC Interiors on foot of its own petition despite it being incorporated outside the EU. The judge said he would soon give a written judgment explaining his decision, which is the first time the High Court has appointed an examiner to a petitioning firm incorporated outside this jurisdiction.
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