AIB seeks to overturn land transfer to wife

AIB has brought a court action aimed at overturning a businessman’s transfer of lands to his wife.

The bank claims the transfer is a fraud on creditors and an attempt to frustrate its efforts to secure repayment of a €6.7 million judgment obtained against Raymond Nolan and another man.

The lands include 20 acres at Brownstown, Kilcullen, Co Kildare, valued at €6 million in 2006 but now said to be worth less than €1m.