Fund cannot seek to recover €1.6m from doctor, appeals court rules

Three-judge court finds High Court erred in fact and in law in not holding that bank was permanently estopped from offsetting funds in doctor's account and from pursuing him over debt.

Paur secured a €3.4m loan from Ulster Bank Ireland and both provided guarantees for the borrowings. File picture: Sasko Lazarov/Rollingnews.ie

A fund has been permanently prevented by the Court of Appeal from seeking to recover some €1.6m from a doctor arising from a loan issued by Ulster Bank Ireland in 2007.

The three-judge Court of Appeal on Friday granted an appeal by Neil Healy against a High Court decision that Promontoria (Aran) Ltd is entitled to recover that sum from him.