AIB: Couple failed to pay bank from sale proceeds

A couple who owned a famous Galway pub-restaurant have spent €900,000 on living expenses from the proceeds of property sales and have not used any of it to pay off a debt to a bank of nearly €20m, a court has heard.

William and Sheila Moran, who owned Moran’s On the Weir in Kilcogan, must answer questions about their expenditure in the next two weeks as part of AIB’s bid to recover the €20m, Mr Justice John Hedigan said in the commercial court yesterday.

AIB obtained judgement against them in 2012 arising out of default on loans for property investment.