AIB seeks judgment against Clare businessmen

AIB is to seek summary judgment against two businessmen over alleged unpaid loans amounting to €3.4m.

AIB claims property developers Patrick Taylor, of Moyreisk, Quin, Co Clare; and Garech McGuinness, of Whispering Pines, Ennis, Co Clare, owe it €3.4m on foot of loans and overdraft facilities extended five years ago.

Mr Justice Brian McGovern, in the Commercial Court yesterday, admitted the case to the big business division of the High Court and set March 1 as the date for hearing of the bank’s application.

AIB officer Lynne Allan, in an affidavit, said a €4.1m loan facility had been extended to the two property developers in September 2011, along with overdraft facilities.

Immediate repayment of the loan and overdraft facilities was demanded in July 2015.

She said in spite of the letters of demand, Mr Taylor and Mr McGuinness have failed, refused or neglected to honour the demands and discharge the total sum owing, which is in the region of €3.4m.

Ms Allan said that had the developers been willing to detail the basis for any defence they might have to the claim of the bank, a request for mediation would have been considered on its merits.

The case will come before the court again on March 1.