Businessman ordered to repay bank €12m from investment loans

A BUSINESSMAN has beenordered by the Commercial Court to repay to ACC Bank €12 million arising from loans made to him over a five-year period for property and other investments.

Mr Justice Brian McGovern yesterday granted judgment in that amount on the application of Bernard Dunleavy, for ACC, against Francis Tiernan, Anne Street, Dundalk, Co Louth.

Mr Tiernan was not in court and his counsel Paul McDermott SC was earlier permitted by the judge to withdraw from the case, because of what counsel described as matters of concern raised by the bank in a replying affidavit received this week.