Credit union barred from selling homes to meet loan

A High Court judge yesterday refused to grant an order to a credit union to clear the way for the sale of two family homes to meet a €560,000 unpaid loan.

Mr Justice Michael White ruled that the wives of the two men who took out the loan from Muintir Skibbereen Credit Union for property development were never consulted about the commercial loan and never signed any documentation providing their family homes as security.

Muintir Skibbereen Credit Union Ltd had sought an order declaring that the debt owed by the men was “well charged” on their property and sought the sale of the two family homes.