High Court grants four repossession orders

FOUR orders for repossession were granted in the High Court yesterday.

A number of cases were adjourned by Ms Justice Elizabeth Dunne because of concerns over the effect of recent changes in the law relating to land and conveyancing.

She said some proceedings had to take into account the repeal of the 2009 act, with the special summonses appropriately amended.

More than half a dozen cases were adjourned until early July to allow the judge reflect on the issue and clarify the matter.

One of the repossession orders made by Ms Justice Dunne related to a property in Mullingar, Co Westmeath.

Counsel for GE Capital said the owner was a single man who had accrued arrears of €43,000 on a €222,000 loan taken out in June 2008.

The man, who blamed a slowdown in the motor trade, last made a payment on the mortgage in July 2009 of €300, instead of monthly installments of more than €1,500.

Ms Justice Dunne, said, effectively, no real engagement had been made by the man with the lender since July 2009.

She put a six-month stay on the order as it was believed that the man was residing in the property.

Another repossession order was granted to Irish Nationwide in relation to a short-term loan for the development of a business property in Cootehill, Co Cavan.

The loan of €450,000 was drawn down in 2002 and the amount now outstanding on the loan — which was to have been paid over a two-year period — was €596,991, with more than €100,000 accrued in arrears.

There were two payments of €5,000 made in 2010 by the defendant, who runs a small plant hire business on the site, where there are a number of dilapidated buildings.

The judge also granted a repossession order sought by Leeds Building Society in relation to a €200,000 loan drawn down in 2007 and in arrears since 2008.

The court heard that repayment arrangements had broken down on at least five occasion and accrued arrears exceeded €12,000.

It is understood that the property was owned by a couple, now both unemployed, who were not present for the hearing. Ms Justice Dunne put a six-month stay on the order after it was pointed out that there was a child living on the property where the man, now separated, still resided.

Another case where a repossession order was granted involved an outstanding loan of €220,000 where there were arrears of €32,000. No payment had been made on the loan account since October 2008.

The defendant, who was not in court, had indicated he was consenting to the order, provided there was a six-month stay. The judge said she would grant it on that basis.