Bank seeks €10.8m from Kerry businessmen

A bank is pursuing two Kerry businessmen for €10.8 million summary judgment orders over loans advanced for a development in Dingle, Co Kerry.

Bank seeks €10.8m from Kerry businessmen

AIB’s proceedings against Billy Moloney, Racecourse Road, Tralee; and Eamon McCarthy, Cragg, Currans, Farranfore, were transferred yesterday to the fast-track Commercial Court.

John O’Donnell, for the defendants, said they were not objecting to the case being fast-tracked but among their concerns was that the bank should facilitate the speedy completion of sales by providing its consent.

Mr Justice Brian McGovern said the defendants could not seek to “negotiate” in court but he was sure the bank would be “sensible”.

The bank’s claim relates to various loan and guarantee facilities, including a €9.3m facility advanced in September 2008 relating to a development site at Cnoc an Cairn, Chapel Lane, Dingle.

It is alleged €10.8m is due and owing under the facilities. The bulk of the sum being claimed relates to facilities advanced to both defendants under the Cnoc an Cairn development with a smaller sum sought under limited guarantees of loans of Lartigue Developments Ltd, with registered offices at Monavalley, Tralee.

More in this section

IE_180_logo
Price info

Subscribe to unlock unlimited digital access.
Cancel anytime.

Terms and conditions apply

Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day. PS ... We would love to hear your feedback on the section right HERE.

Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day. PS ... We would love to hear your feedback on the section right HERE.