Bank pursues couple for €1m

A BANK which is owed €1 million by a Co Kerry couple, on foot of personal guarantees of a company debt, had failed to accept a number of cheques of €1,200 advanced weekly by the couple in a bid to repay that debt, the Commercial Court was told yesterday.

Eamon McElligott, of Kilcolman, Asdee, Listowel, representing himself, had told the judge that he had sent a number of cheques to Friends First Finance Ltd relating to debts of the couple’s company, Asadee Quarry Products Ltd, arising from hire purchase and lease agreements for machinery in 2006 and 2007.

He said the bank had failed to cash those cheques on the grounds they were not sufficient.

However, the bank had recently begun to accept the cheques. On that basis, and because he believed he and his wife had an agreement to pay off the debt in installments, he asked the judge not to admit the proceedings to the Commercial Court.

Mr Justice Kelly said while Mr McElligott may have an argument that the amount of the debt may be slightly below the €1m threshold for Commercial Court proceedings, the court had a discretion to admit such cases.

Both Mr McElligott and his wife should consider getting legal representation given the sum involved, the judge advised. He adjourned to next month the bank’s application for summary judgment against the couple for the money.