Bank entitled to judgments of €2.1m over loans on properties

 

A bank is entitled to summary judgment orders against a barrister and his wife for €2.1 million over loans on six rental properties on which they defaulted, a High Court judge has ruled. Permanent TSB brought the claim against Ronald Hudson and his wife Miriam arising out of their purchase in 2003 of three houses in Clondalkin, Dublin, an apartment in Galway and a further two houses in 2006.

They were given five loans totalling some €1.97 million. After falling into arrears the bank demanded full repayment. They now owe €2.1 million.

The Hudsons said they had a defence including that on the basis of representations made to them by mortgage broker Susan Croke, of the Irish Mortgage Corporation, they would not be personally liable for the loans and could simply hand back the properties to the bank if things did not work out. Mr Justice Seán Ryan yesterday said he found the story told by Mr Hudson and his accountant Anthony Fitzpatrick was not credible. “It is far-fetched and inconsistent,” he said.