Banks seek orders for €150m in loans

A SERIES of new and separate claims by various banks seeking judgment orders for more than €150 million over unpaid loans, the vast majority property related, came before the Commercial Court yesterday.

The largest of the claims was by Bank of Ireland for €63m against four Cork businessmen, while the second largest was by Irish Nationwide Building Society for €35m against a Limerick developer, Gerard Clohessy.

Mr Justice Peter Kelly made summary judgment orders totalling more than €60m in a series of cases in circumstances where no defence was offered to those claims. The unopposed claims included the INBS case against Mr Clohessy, Mount Shannon Road, Annacotty, Lisnagry, Co Limerick, arising from six loan accounts operated by him with the society. INBS claimed the total amount owed under the various acounts, plus interest, was €34.57m.