Pair agree to judgment orders of €27m

A businessman has agreed to orders requiring him to repay Bank of Ireland €16m over unpaid loans issued for property development and other purposes.

Judgment for €11m was also entered on consent against a second businessman arising from his guarantees over the same loans.

Bank of Ireland had sought summary judgment orders against Sean Walsh, Main St, Midleton, Co Cork and Paudie Murphy, of Whitebay, Trabolgan, Co Cork, arising from loan facility letters of Mar 2010 and guarantees.