Loans ruling could affect billions

A decision by Justice Paul Gilligan over the non-payment of €51,000 could have significant consequences on the billions of euro of loans sold by Irish banks.

Anthony and Miriam Freeman have been granted permission by the High Court to challenge the validity of the appointment of a receiver by Bank of Scotland over several properties they owned.

Accountant Seamus Sutcliffe with Lansdowne Francs and Company, which has been advising mortgage holders on overturning receivers, said that the case could send shockwaves through the Irish financial landscape if the Freemans are successful.