:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/DFTVPS6D2M5E5OM4SLB6JCQ3WU.jpg)
Traditional musician Sharon Shannon and her manager John Dunford have consented before the Master of the High Court to a judgment for €520,000 being registered against them.
A six-month stay was granted, on consent, on the execution of the judgment.
Permanent TSB sought the judgment, both jointly and severally, against Ms Shannon and Mr Dunford after they allegedly failed to make repayments on a business loan taken out with the bank in 2006.
Irish Life and Permanent plc, trading as Permanent TSB plc, said Ms Shannon, Devon Gardens, Salthill Co Galway and Mr Dunford, Corbawn, Shankill, Dublin, had borrowed €402,000 from it in November 2006 by way of an Endowment Residential Business Loan.
The loan was to be repaid via monthly instalments of some €1,650 over a period of 20 years.
It was claimed that, in June 2010, Ms Shannon and Mr Dunford failed to make two monthly repayments in a row and that, under the terms and conditions of the loan the entire balance became due and owing.
The bank demanded full repayment of the loan in 2012 and claimed the defendants had neglected to pay back the monies advanced plus interest.
The bank's application for judgment was briefly mentioned before the Master of the High Court, Edmund Honohan, who deals with procedural and other matters relating to cases on their way to hearing before a judge of the High Court.
Tomás Keys BL, for Permanent TSB, told the Master the defendants had consented to judgment of €520,057 in favour of the bank.
Ms Shannon was not in court and both she and Mr Dunford were represented by separate solicitors.
The Master, following an agreement between the sides, placed a six-month stay on the execution of the judgment order.
Ms Shannon, who plays both the accordion and the fiddle, is one of Ireland’s best known and successful musicians. Her album, Sharon Shannon, is one of the biggest selling recordings of Irish traditional music of all time.
A native of Co Clare, she has collaborated with many top names in music and has performed before audiences worldwide, including for US presidents Bill Clinton and Barack Obama. Mr Dunford is also a well known music producer.