The couple who had repossession proceedings that were brought against them by a sub-prime lender struck out by the High Court have expressed their relief that their ordeal has ended.
In a statement, solicitors for John and Shelia Nolan, Kevin P Kilrane & Company, said: “In the High Court this morning, before Ms Justice Isobel Kennedy, proceedings by Home Funding Corp Ltd against our clients were, dismissed with costs in our clients favour.
“This ordeal started in 1997 and our clients are relieved that it has finally come to a conclusion. It is incredible to believe that entities such as, the plaintiff in this case, are and continue to operate completely outside regulation or codes of conduct of any kind. This lack of regulation was raised with the appropriate state authorities from, the earliest stage of our case over 15 years ago and yet, these glaring gaps in the law have not been filled.”
Home Funding Corp Ltd had claimed €1.4m was due on foot of an IR£40,000 loan taken out 18 years ago.
Ms Justice Isobel Kennedy said the balance of justice favoured striking out the company’s application to have the repossession application re-entered against John and Shelia Nolan, Ballinagare, Castlerea, Co Roscommon.
The judge said a delay between 2004 and 2014 by the company in advancing the application was both inordinate and inexcusable, and the case should be dismissed for want of prosecution.
Costs were awarded in favour of the Nolans. The judge agreed to place a stay on the costs order in the event of an appeal.
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