Allied Irish Bank has failed to reach an agreement with four businessmen, including a son of well-known hotelier Jim Mansfield, over the repayment of some €6.28 million arising from loans advanced to develop lands in Co Meath.
The proceedings had been admitted to the Commercial Court last week but were adjourned after the defendants made proposals to the bank.
Yesterday, Denis McDonald SC, for AIB, said the talks had “come to nothing” and the bank was proceeding with its application. Ms Justice Mary Finlay Geoghegan adjourned the case to next month.
