Sunday 28 December 2014

AIB awarded €7.5m against three debtors

Published 24/11/2012 | 05:00

AIB BANK has got a judgment of just over €2.5m each against three men over unpaid loans, the High Court ruled.

The orders were made against Sean Keane, Rocklands, Gracedieu, Waterford; Michael Ryan, Laraghcon, Lucan, Co Dublin; and his father, Michael Ryan Snr of Argus House, Greenmount Office Park, Harold's Cross Road, Dublin 6.

The bank provided a loan in August 2007 to Mr Keane and Mr Ryan Jnr for the purchase and development of light industrial units at Waterford Airport Business Park. Mr Ryan Snr provided a guarantee. AIB called in the loans in 2010.

In her judgment yesterday Ms Justice Elizabeth Dunne rejected all the defendants' arguments and ruled that AIB was entitled to €2,527,628 against each of the defendants.

Irish Independent

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