Woman, 81, liable for €1m guarantee of son’s business

An 81-year-old woman who provided a €1m guarantee concerning a loan to her son’s fuel distribution business which later went into receivership is liable for judgement in that sum, the Court of Appeal has ruled.

The three-judge court upheld a commercial court finding that Maureen Curran, from Oldcastle, Co Meath, had made out no arguable defence to Bank of Ireland’s claim for summary judgement against her for the €1m. Ms Curran, a widow, is the mother of Michael Curran whose XL Fuels Group, Oldcastle, went into receivership when the firm defaulted on loans from Bank of Ireland.

The bank had brought proceedings seeking judgement against Mr Curran and his mother. Judgment for €2.2m was previously entered against Mr Curran who did not defend the application but Mrs Curran maintained she had an arguable defence.