A SERIES OF new claims by various banks seeking judgment orders for more than €150 million over unpaid loans, most of them property related, came before the Commercial Court yesterday.
The largest claim was by Bank of Ireland for €63 million against four Cork businessmen, while by Irish Nationwide Building Society (INBS) is seeking €34.57 million against a Limerick developer, Gerard Clohessy.
More than a dozen claims for smaller sums ranging from €1 million up to €9 million were also brought.
Mr Justice Peter Kelly made summary judgment orders for more than €60 million in cases where no defence was offered.
Unopposed claims included the INBS case against Mr Clohessy, Annacotty, Lisnagry, Co Limerick, arising from some six loan accounts operated by him with the society.
The society said the loan arrangements were principally connected with the Evanwood development being carried out by Mr Clohessy at Castletroy, Limerick; the Drominbeg housing estate development at Rhebogue, Co Limerick, and the purchase of other Rhebogue investment properties.
The society said it learned last November that judgment mortgages had been registered against Mr Clohessy’s property interests but not notified to it, constituting a major default of the conditions of the loan facilities.
In March, it issued letters of demand and also appointed a receiver over several properties.
Mr Justice Kelly adjourned to Friday Bank of Ireland’s application for summary judgment orders for about €63 million against Michael Conway snr, Carriganarra, Ballincollig, Co Cork; Michael Conway jnr, Lake View, Faha, Dripsey, Co Cork; Kieran Conway, Burkes Hill, Tivoli, Cork, and Paudie Dennehy, Seaview, Ballinaskulla, Myrtleville, Co Cork.
The bank claims €24.3 million is owed under loans advanced to the defendants, trading together as the Conway Partnership, while another €38.5 million is due under guarantees allegedly provided by them over the liabilities of Rumex Ltd and Daphne Investments Ltd, trading as the Dee Partnership.
It is claimed the Conway facility was provided mainly to refinance previous loans for development of a property at City Square, Watercourse Road, Cork. The Dee facility was also made primarily to refinance previous loans related to construction work on the property.
ACCBank secured, on consent, summary judgment for €8.3 million against two Co Galway men, Denis O’Connell and Brendan Quirke, both of Corbally, Cummer, Tuam, arising from loans advanced in February 2008 to assist in the purchase of a 12-acre site with full planning permission for 117 units at Lensboro Road, Roscommon.
Mr Justice Kelly also granted summary judgment for €3.2 million against two Co Galway builders who represented themselves.
Martin Fox, Moyvilla, Oranmore, and Gareth Duffy, Ballina, Ballyglunin, Tuam, said they had no defence to the claim against them by ACCBank but they told the judge their indebtedness would have been considerably smaller had the bank allowed them a reasonable opportunity to try and sell properties built by them.
Summary judgment for €4 million was also entered in favour of ACC Bank against Carol Macken, a creche operator, of Carrickbrack Lawn, Sutton, over unpaid loans.
Bank of Scotland Ireland got summary judgment for about €1.5 million against Donal Rigney and his company Donal Rigney Ltd, Mountpleasant, Bluebell, Tullamore, Co Offaly. The bank is also seeking possession of 38 vehicles from the defendant but he is seeking to keep some of those to fulfil a contract in the Middle East.
