Tuesday 6 December 2016

Anglo takes businessman to court over €17m unpaid loans

Tim Healy

Published 16/11/2010 | 05:00

ANGLO Irish Bank is seeking summary judgment orders for more than €17m against a businessman over unpaid loans.

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The proceedings against Maurice Healy, of Glencoe, Knocksinna, Foxrock, were transferred to the Commercial Court yesterday by Mr Justice Peter Kelly.

Hugh O'Flaherty, for Mr Healy, had sought an adjournment saying he had been unable to get instructions as yet on Mr Healy's attitude to the application for transfer. Mr Healy's usual solicitors felt conflicted in the matter and another firm of solicitors had been contacted only very recently, he said.

Alison Keirse, for Anglo, objected to any adjournment saying the bank was concerned another party might bring proceedings in the interim against Mr Healy due to guarantees provided by him.

Mr Justice Kelly said it was unsatisfactory that Mr Healy had provided no instructions to date, even on the application to transfer the case.

The judge said he would transfer the case and Mr Healy could instruct his lawyers whether he intended to defend the application for summary judgment.

The case arises from two loan facilities -- the first, for a maximum Stg£5.75m (€6.8m), was made available by Anglo in October 2008 to Mr Healy; while the second, for €10.8m, was made available in May 2009.

The 2009 facility was to fund personal investments by Mr Healy and was secured by charges over property and various shareholdings of his.

Irish Independent

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