Bank’s error could delay repossessions by year

A court move by the Bank of Ireland to repossess three homes in Cork failed on Thursday because the bank got its own name wrong on its legal paperwork. The mistake could delay repossession by up to a year.

In the Cork Circuit Court, Judge Donagh McDonagh struck out the cases because the bank was named as Bank of Ireland Mortgage Bank, rather than Bank of Ireland Mortgage Bank PLC.

“If banks want to sue people, they must describe themselves properly,” the judge said. Bank of Ireland confirmed three cases had been struck out.

Blog report

The cases, which involved Bank of Ireland Mortgage Bank Plc, are reported on the Cork Economics blog by staff from the school of economics at University College Cork.

The bank will now have to begin their cases against the borrowers again, if they determine they still want repossession. It is unlikely they would reach a hearing until late next year.

One borrower appeared in court, ready to defend the case. No details on the types of dwellings involved, or the amount owed to the bank were provided to the court.

In the first two cases, the judge asked the legal status of the plaintiff and was told it was “a bank”. He asked if there was a legal entity called Bank of Ireland Mortgage Bank.

Shown the bank’s certificate of incorporation and articles of association, the judge said the legal proceedings were in the name of Bank of Ireland Mortgage Bank, a body which had no legal status.

The three cases were among eight repossession cases before the judge on Thursday.