Ulster Bank has been granted a €2.7 million summary judgment order, plus an order for possession of a property in Malahide, Co Dublin, against a leading medical doctor.
Dr Samuel van Eeden’s family home and another investment property were repossessed earlier this year by other banks.
Ulster Bank had brought proceedings in the Commercial Court against Dr van Eeden for summary judgment over an unpaid loan of €2.16 million which was advanced in May 2007 to purchase a property, Orchard House, Swords Road, Malahide. With interest, some €2.7 million is now due under the facility, which was secured on the property.
Mr Justice Peter Kelly granted summary judgment for the €2.7 million sum, plus costs, to Andrew Walker, for Ulster Bank.
The judge also made an order for possession of the property but, with the agreement of the bank, placed a stay on that possession order until February 1st 2011, the date after a tenant’s lease for the property expires.
Dr van Eeeden did not defend the proceedings.
Last June, Dr van Eeden and his wife Zelda agreed to hand back their €2 million home at Knockdara, Seamount Road, Malahide, to Bank of Scotland (Ireland), in circumstances where their mortgage arrears exceeded €250,000.
They had borrowed some €1.99 million from Bank of Scotland (Ireland) in December 2007 to buy the property and repayments on that sum rose from €6,500 a month to €9,300. The outstanding balance on the mortgage last June was some €2.08 million.
An order for possession of the Knockdara property was made but a stay for four months was granted.
Just months earlier, the couple had also handed back a €1.6 million investment property at Seamount Heights, Malahide, to AIB Mortgage Bank which had in Februarty 2007 advanced the couple facilities to purchase the property.
Dr vVn Eeden is medical director of the Malahide Medical Centre and Arte Novi Clinic, which provides medical surgery and non-invasive cosmetic services.