NIB chasing Smyth for €9.6m
Published 08/11/2011 | 05:00
A SOLICITOR and businessman who guaranteed loans to two companies is being sued for €9.6m at the Commercial Court.
Danske Bank, trading as National Irish Bank, has taken the action against Noel Smyth, of Lisieux Hall, Murphystown Road, Sandyford, Co Dublin, and two companies, Monway and Fitzwilliam Finance Corporation, with registered offices at Arkle Road in Sandyford.
The bank's barrister, Denis McDonald, yesterday told Mr Justice Peter Kelly that the case arose from facilities provided to the two companies.
Declan Murphy, for the defendants, said they were neutral on an application, which was granted, to transfer the case to the Commercial Court. However, he said his clients wanted two weeks to file a defence.
Mr Murphy said the defence would include claims that a bond was mis-sold to Fitzwilliam Finance and would also be making set-off claims. There were also issues concerning the nature of the guarantees.
Mr Justice Kelly said he would allow time for the defendants to outline their defence on affidavit and would hear the summary judgment application next month.