Businessman not allowed take €6m KBC Bank action

A man who owes KBC Bank over €6.2m cannot pursue an action alleging the bank engaged in negligent lending, the commercial court has ruled. 

There is no cause of action here for reckless or negligent lending, Mr Justice Brian McGovern said.

James Osborne of Fort Road, Gorey, Co Wexford, had no reasonable cause of action against KBC, his proceedings were “frivolous and vexatious”, an abuse of process in effectively attacking a previous High Court decision against him, and out of time, the judge found.