In separate proceedings, the bank obtained a €2.55m summary judgment against a Co Galway businessman.
None of the defendants had opposed summary judgment and the orders were granted by Mr Justice Peter Kelly at the Commercial Court yesterday.
Summary judgment in the €2.3m sum was sought arising from loan facilities made available in April 2007, to the Nun’s Cross Partnership. A €1.9m facility was made available towards purchase of a 3.25 acre site at Nun’s Cross, Ashford, Co Wicklow, and that facility expired in May 2009. Some €2.3m, including interest, was later sought.
ACC had demanded repayment on July 16 after talks about renegotiating the facility failed. A week later the bank appointed a receiver over the property. The receiver has indicated there is insufficient value in the property to meet the debt owed.
Prior to the legal proceedings, ACC said it had given the defendants “every conceivable opportunity” to renegotiate the facility which was the bank’s preferred alternative but the defendants had “stalled at every turn”.
The bank sought summary judgment against Patrick Doyle, Avondale Hall, Wicklow town; David Kelly, Rathdown Villa, Rathdown, Greystones; Earle Kelly, Amego Farms, Blacklion, Greystones; Kenneth Vickers, Seaview Road, Wicklow town; Joseph Ronan, Mill House, Clora, Nun’s Cross, Ashford and Rory Fahey, Seapoint, Brittas Road, Co Wicklow, all trading as the Nun’s Cross Partnership.
Summary judgment in the €2.3m sum was previously granted against Mr Ronan but the case was adjourned against the other five due to issues related to service of documents. Yesterday, Mr Justice Kelly said he was satisfied with service and that ACC was entitled to summary judgment against the five.
Also yesterday, ACC sought summary judgment for €2.55m against Kieran Flanagan, Dun na Carriage, Salthill, arising from various loans advanced to him in 2006, including to restructure an existing loan of his related to development lands at Kilcolgan and Claregalway, Co Galway.
Another facility was to provide bridging finance to allow Mr Flanagan purchase a site at Bunratty, Co Clare, also for development purposes.
Mr Justice Kelly said he was satisfied Mr Flanagan had been served and was on notice of the bank’s application. ACC was entitled to judgment in the sum sought, he ruled.