€18m judgement against two Wexford businessmen for unpaid loans
Bank of Scotland has obtained judgment in the Commercial Court for some €18m against two Co Wexford businessmen over unpaid loans.
There was no appearance by or on behalf of Declan Devereux, Grange, Broadway, and William Devereux, Walshestown, Piercestown, when the bank's proceedings came before the court yesterday.
Mr Justice Peter Kelly said he was satisfied the procedings had been served on both men and he also noted the court was told they had indicated they would not be opposing the bank's application.
In those circumstances, the judge said he would enter judgment for €17,951,208 against each of the men.
The court heard the liability arose as a result of facilities provided on dates from 2007, including for the purchase of a site at Gorey Retail Park and the building of two units on that site.
One of the facilities also related to loans provided to Devereux Enterprises Ltd.