ACC registers judgments against properties in effort to secure repayment of developer loans

ACC Bank has registered judgments against a large number of properties, including Dublin’s exclusive Shrewsbury and Ailesbury Road, in an effort to secure repayment of loans made to developers Larry O’Mahony and Thomas McFeely.

The bank had last July secured summary judgment orders for some €6.2 million against Mr O’Mahony and Mr McFeely over non-repayment of a commercial development loan issued in April 2005.

Mr Justice Peter Kelly granted summary judgment after finding Mr McFeely, Ailesbury Road, Ballsbridge, Dublin, and Mr O’Mahony, Shrewsbury Road, Ballsbridge, had no arguable defence to the bank’s claim. The bank has since sought statements of affairs from both men and John Gleeson SC, for ACC, told the judge yesterday those statements had been received last week. His side had a number of queries about these and wanted time to consider the statements.