Court rules shopkeeper failed to establish reckless lending claim

A shopkeeper who claimed he only got a €32 million bank loan because Zurich Bank officials enhanced his original loan proposal before putting it before its credit committee for approval cannot proceed with his action against the bank, the Commercial Court has ruled.

Mr Justice Peter Kelly found yesterday Jim McConnon had failed to establish an alleged tort of reckless lending exists as a civil wrong in Irish law.

Therefore, even if that claim had not been addressed in earlier proceedings by the bank against Mr McConnon, he could not proceed with such a claim, the judge said.