Bank seeks orders for €11.5m

AN application by Bank of Ireland for €11.5 million summary judgment orders against a Co Wicklow property developer arising from unpaid loans has been adjourned to a full hearing.

The summary judgment application against George Wilkin, Roselawn Green, Boghall Road, Bray, Co Wicklow, was listed for hearing at the Commercial Court yesterday, but Michael McDowell SC, for BoI, told the court the sides had agreed, following an exchange of affidavits, the matter should go to a full plenary hearing.

Ms Justice Mary Finlay Geoghegan said it appeared Mr Wilkin had raised an arguable defence sufficient to enable the matter go to plenary hearing.

She made directions for the exchange of further legal documents between the sides and listed the case for further directions in July next.

In its proceedings, BoI is seeking judgment for €11.59 million over loans advanced between 2005 and 2007 to allow Mr Wilkin invest in residentialdevelopment sites in Bray.

The bank demanded repayment of the loans last December, after alleging that Mr Wilkin had fallen into arrears of repayments.

Mr Wilkin, who was in court yesterday, has argued the loans were not true on demand facilities and the bank was not entitled at this stage to call them in.