Michael Fingleton, FF senator and two developers oppose bid to fast-track legal action over €13.5m loans

FORMER Irish Nationwide Building Society chairman Michael Fingleton, a Fianna Fáil senator and two developers are opposing a bid to fast-track a legal action against them over unpaid property loans of €13.5 million.

Ulster Bank has brought the case against Mr Fingleton, of Liskillen, Shankill, Co Dublin; Fianna Fáil senator Francis O’Brien, Corwillan, Latton, Castleblayney, Co Monaghan, and two Co Monaghan property developers, Noel Mulligan, Moyles, Castleshane, and Charles McGuinness, Tully House, Monaghan.

The case relates to an alleged €13.2m loan facility of July 2006 advanced to the four to purchase a 50-acre site at Swellan Upper and Lower, Farnham Road, Cavan. The loan was secured on the site and Ulster Bank claims the facility was repayable on demand at all times.