Danske Bank secures order for almost €7m over unpaid loans

Danske Bank has secured judgment for almost €7 million against a businessman over unpaid loans secured on properties at Charlemont Street, Dublin.

Rossa Fanning, for Danske, trading as NIB, said the claim related to commercial loans advanced for properties at Charlemont Street over which the bank appointed a receiver last December. The bank was satisfied John Meagher had no defence, Mr Fanning said.

Mr Justice Peter Kelly said he would transfer the case to the Commercial Court and enter judgment in the sum of €6,984,826, plus costs.

Danske had offered Mr Meagher, Ashbourne, Co Meath, a €6.9 million loan facility in February 2011 to restructure existing loans. It was secured on five properties in Charlemont Street.

The last full payment by Mr Meagher on the loans was in January 2012 but the next month’s payment of €48,546 was deferred until April 2012. Mr Meagher, it was claimed, made only a partial payment of €23,556 at that stage.

When the sides failed to reach an agreement, Danske sought payment of arrears or a proposal for dealing with the debt.