Callely consents to €11m judgment

Former Fianna Fáil senator Ivor Callely has consented to an €11m judgment being entered against him at the High Court.

The Irish branch of Investec Bank plc had brought proceedings against Mr Callely, with an address at St Lawrence’s Rd, Clontarf, Dublin, arising from a Mar 2007 loan agreement under which €9.85m was advanced to Mr Callely and three other borrowers — John O’Dolan, Denis Kenny, and Daragh Sharkey — to buy property. The bank claimed all four borrowers were jointly and severally liable to repay it.

The case against Mr Callely was listed before Mr Justice Kevin Cross who was told by Ciaran Lewis, for the bank, Mr Callely was consenting to judgment for a €11m sum and the bank was agreeable. The judge entered judgment for that sum.