ACC granted summary judgment order for €4.3m against developer

THE Commercial Court yesterday granted a summary judgment order for €4.3 million against a businessman over his failure to repay five separate loans from ACC Bank for the purchase of properties in Dublin.

James Jordan, described in court as an experienced property developer, had not put forward an arguable defence to the bank’s claim for judgment, Mr Justice Peter Kelly ruled.

Mr Jordan, of Laochfail, Outfarm Lane, Castleknock, Dublin, claimed the bank was fully aware the biggest loan of €2.87m was “purely speculative” whereby he intended to exploit a 1.7 acre piece of land surrounding his five-bed detached home on which other “substantial” houses were to be built and sold.