Man consents to €44.3m judgment in Commercial Court

A man has consented to judgment for some €44.3 million being entered against him at the Commercial Court over unpaid loans issued to buy lands in Co Dublin.

ACC Loan Management Ltd (ACCLM) – formerly ACC Bank plc – had initiated proceedings against Frank Connon, of Tullyrisk, Birr, Co Offaly, and Fergus Connon, Merryfalls, Sillogue Lane, Finglas, Dublin, over loans issued by ACC Bank plc on dates from 2009.

Stephen Walsh BL, for ACCLM, told Mr Justice Brian McGovern yesterday that Frank Connon was consenting to judgment against him for some €44.3 million.

Counsel said a settlement had been executed by Fergus Connon and, in those circumstances, the sides wanted the proceedings against him adjourned to Friday when it was expected the bank would also have executed the settlement and the case against Fergus Connon could be struck out.

Mr Justice McGovern made the orders as sought.

In its proceedings, ACCLM claimed the relevant loans, for some €35million, were issued in 2009 and secured by mortgages on some 137 acres at Merryfalls, Meakstown, a smaller plot of land.