€9.5m ruling against Carey and partner

HURLING legend DJ Carey and his partner, businesswoman Sarah Newman, have consented at the Commercial Court to a judgment for more than €9 million each against them in favour of AIB Mortgage Bank arising from loans and guarantees of each other’s liabilities.

Mr Justice Peter Kelly granted judgment for more than €9.5m against Mr Carey arising from an April 2007 mortgage loan of €7.85m issued in the context of a wider commercial transaction involving him and associated businesses to refinance existing debt due to Irish Nationwide Building Society and to release equity on properties held by him and Ms Newman.

The €7.85m loan was secured on properties at 908 Ladycastle, The K Club, Straffan, Co Kildare, and 5 The Inch, Mount Juliet, Co Kilkenny. The judgment also arises from Mr Carey’s guarantee of May 2007, limited to €1.5m, of the liabilities of Ms Newman.