Bank resolves bid to get details of couple’s assets

AIB has resolved proceedings aimed at getting full details of the assets of a couple as part of its efforts to recover debt of some €20m, the High Court has been told.

Ciaran Lewis SC, for the bank, said William and Sheila Moran, who had owned the Morans on the Weir pub restuarant in Kilcolgan, Co Galway, had provided sworn statements verifying matters set out in correspondence relating to their assets.

In those circumstances, the bank was not proceeding further with cross-examination aimed at getting full details of those assets and the matter could be struck out, counsel said.

He said solicitors for the Morans had said they would not be in court and were neither opposing nor consenting to the bank’s application for its legal costs.

Mr Justice Michael Twomey agreed to make the strike-out order and also awarded costs to the bank.

Previously, the bank said it was “rather surprised” to be told how the couple spent some €125,000 paid out from Latvian investments in the first two months of this year.

Mr Lewis said the bank’s proceedings had been in the Commercial Court list a few times but, due to health and other reasons, Mr Moran was unable to provide full answers to the bank’s questions aimed at recovering its loans and advisers were asked to assist in that regard.

Previously, the couple, through a solicitor, denied claims they had failed to fully answer questions about transactions and their living expenses. Mr Moran is seriously ill and his spouse is a housewife with no involvement in her husband’s financial affairs, it was stated.