Bank pursues small business minister over €2.47m unpaid loans

The minister of state for small business, John Perry, and his wife are being pursued by a bank for a €2.4m judgment over unpaid loans.

Danske Bank will apply to Mr Justice Peter Kelly on Monday to have its case seeking judgment for €2.47m against Fine Gael TD Mr Perry, aged 56, and his wife Marie fast-tracked in the Commercial Court.

The bank claims the couple, of Carrownanty, Ballymote, Co Sligo, are indebted arising from an Oct 2011 facility for €2.42m provided to restructure existing loans.

It claims the security for the facility included first legal mortgages over a retail premises, the Stone Park Restaurant, and Perry’s Hardware, all located at Main St, Ballymote, and over 50 acres of agricultural lands at Ballymote.

It claimed the loan was to be repaid in full about 12 months after it was drawn down in Nov 2011, with the effect that the final repayment date was Nov 19, 2012.

The couple made some repayments but, the bank claims, failed to keep up the level of interim repayments required under the terms of the loan facility.

Last March, it demanded immediate payment of the total sum outstanding, with interest.

Late last May, solicitors for the bank demanded repayment of the total sum due within seven days.

The bank also claims that in Mar 2012 it wrote to the couple under the code of conduct for business lending, asking if they were in financial difficulty and drawing their attention to the information and resources available to them.

It also claims it engaged with them in efforts to resolve the situation.