THE Bank of Ireland was granted declarations by consent by the High Court yesterday that certain sums stood well charged against Mr Edmund Farrell and his wife, Ms Zora Farrell.
Before the court was an application for a declaration that by virtue of an equitable mortgage created by the defendants' agreements to execute a legal mortgage and made in writing on December 19th, 1991, and August 26th, 1992, to execute a legal mortgage over lands and premises known as "Grasmere, Westminster Road, Foxrock, certain sums stood well charged.
The sums are: £218,387, with continuing interest on an original principal of £208,594 at 8.25 per cent: £13,420 and continuing interest on an original principal of £12,549 at 14 per cent: £14,501 and continuing interest on an original principal of £14,079; and £8,269 and continuing interest on a original principal of £7,972 at 12.25 per cent. Mr Brian Cregan, counsel for Bank of Ireland, told Mr Justice Barr both defendants were consenting to the application.
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