AIB fails to secure summary judgement against cosmetic surgeon over €1.65m property loan
Published 08/04/2016 | 17:33
AIB is not entitled to summary judgment against a cosmetic surgeon and his wife over failure to repay part of a €1.65m property loan, the High Court ruled.
AIB Mortgage Bank loaned the €1.65m to Dr Samuel Van Eeden and his wife Zelda in 2007.
Mr Justice Max Barrett ruled the couple are entitled to have their case go to a full hearing as they have an arguable defence to the bank's claim.
The court heard the 2007 loan was to buy a property at Seamount Heights, Malahide, Co Dublin.
In August 2008, AIB claimed, they defaulted on their loan repayments.
In 2010, AIB was granted possession of the property.
In 2012, it was sold for €305,000 which the judge noted was at a remarkable 82 per cent below its 2007 value.
Last year, the bank sued for recovery of the outstanding loan amount.
The couple however argued the court should not deal with the matter summarily and allow it to go to full hearing.
Among the grounds they advanced were that AIB charged an interest surcharge on arrears during the period of default.