Legal action against Start has ‘major’ implications

A LEGAL challenge to the entitlement of Start Mortgages Ltd to issue mortgages here has major implications for Start’s €1 billion housing loans and for the legal position of other lenders, the Central Bank has told the Commercial Court.

Hundreds of actions by Start for repossession orders are also affected by the challenge brought by Robert Gunn, Mr Justice Peter Kelly noted yesterday when granting the Central Bank’s application to fast-track the challenge to Start’s entitlement to issue loans.

The judge noted Start has 242 actions for repossession before the Master of the High Court with another 71 cases sent to the High Court list, while Start chief executive David Ingram had also said 115 orders for possession have been granted in other cases and a further 89 possession orders have been executed.