Bank, company, and retired taxing master before court

A dispute is before the High Court involving AIB, a company, and a retired High Court taxing master over an alleged settlement of a demand by the bank for repayment of monies it claims are due and owing.

Mr Justice Paul Gilligan was told AIB plc brought proceedings in seeking judgment against Fortberry Ltd for €5m arising out of the firm’s alleged failure to satisfy a demand for repayment of monies AIB loaned it in 2008.

It is also seeking judgment against a director of the firm’s solicitor, James Flynn, for €2.5m on foot of a guarantee he allegedly entered into in respect of the loan facilities, said Rossa Fanning, for the bank.