Call for test cases to claim ‘reckless lending’ compo

A POTENTIALLY groundbreaking test case claiming banks and the former government are directly responsible for the financial ruin of tens of thousands of homeowners and property investors is set to be taken against the State.

The Irish Property Council (IPC) has confirmed it is seeking individuals badly damaged by 100% mortgages, “reckless lending” and “a lack of regulation” as part of a planned case seeking mass compensation.

Notices due to be published in newspapers tomorrow will argue that people’s lives have been ruined by the system that created the Celtic Tiger-era property bubble.