AIB seeks €43m judgment orders against building firm

ALLIED Irish Banks is seeking €43 million judgment orders against a building company and three of its directors over unpaid loans issued for developments in Co Kerry, including a nursing home and 81 associated residential units.

The bank is also seeking judgment orders for more than €23m against two other men over guarantees allegedly provided by them over some of the loans.

The proceedings are against Galvin Developments (Killarney), Muckross Road, Killarney; Souter Enterprises, Michael Street, Limerick; Jeremiah Galvin, Muckross Road, Killarney; Colm Galvin, Woodlawn, Killarney; Denis Galvin, Aghadoe, Killarney; John Shee, Lishee, South Circular Road, Limerick; and Joseph Hanrahan, Cedar Cottage, Castletroy, Limerick.

Mr Justice Peter Kelly transferred the case to the Commercial Court yesterday and entered judgment for some €13.2m against Souter, which failed to enter an appearance in the case.

The proceedings against the other defendants were adjourned for two weeks.

AIB is seeking summary judgment orders for some €43.9m against Galvin Developments, summary judgment for some €43.38m against the three Galvin defendants and orders for some €23.5m each against the other two defendants.

The claim relates to loans advanced to Galvin Developments and Souter by the bank and to guarantees allegedly provided by the other defendants.

The bank said it understood differences had arisen between the Galvin defendants on the one hand and Mr Shee and Mr Hanrahan on the other.

It said the Galvin defendants had claimed their liabilities under the guarantees were restricted and the bank had recourse only to a 120 acre site at Cappagh, Co Kerry. AIB contends the claims by the Galvin defendants do not reflect agreements made with the bank.


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