AIB secures orders on properties

AIB has secured court orders for possession of three properties in Waterford to meet a €4.3 million judgment secured by the bank last June.

Mr Justice Peter Kelly yesterday granted the possession orders against Thomas Farrell, Greenfield House, Monovoy, Tramore, Co Waterford, arising from mortgage loans granted in August 2006 in total amounts of €3.975m. The mortgages related to 17 acres of lands in Co Waterford and premises at The Quay, Waterford City, and at Waterford Business Park.

The bank claimed Mr Farrell mortgaged his interest in all three properties as security for the loans advanced and in June 2008, it secured judgment from the commercial court for a €4.287m against Mr Farrell.