Businessman Jim Mansfield Jr loses appeal over judgment orders for some €6.32m against him and three others over unpaid loans
BUSINESSMAN James Mansfield junior has lost an appeal over judgment orders for some €6.32 million against him and three others over unpaid loans to buy and develop lands in Co Meath.
In 2010 at the Commercial Court, Mr Justice Peter Kelly ruled AIB was entitled to summary judgment orders for some €6.32 million against Mr Mansfield Jnr, Palmerstown House, Johnstown, Co Kildare. The orders were also against Brian Higgins Allensgrove, Celbridge Road, Leixlip, Co Kildare; Glen O'Callaghan, Drapier Road, Dublin, and Seamus Kavanagh Kyle, Killea, Templemore, Co Tipperary.
AIB sought the judgment orders arising from a number of loans it advanced between 2003 and 2009 in connection with the purchase of a site at Duleek, Co Meath. The made a demand for full repayment of the loans
It was claimed the four defendants formed the "Duleek Partnership" to acquire lands for the purpose of constructing apartment blocks, an underground car park, and commercial units which were to be sold on.
Mr Justice Kelly granted summary judgment after finding none of the four had made out an arguable defence to the bank's claim such as would allow the matter go to a full hearing.
Mr Mansfield Junior appealed the decision. The other three did not appeal.
Mr Mansfield, a son of the late hotelier and property developer Jim Mansfield, argued the Commercial Court erred in its decision that he had not demonstrated an arguable defence centring on his claim he signed the document by mistake.
Mr Mansfield said he is dyslexic, and cannot read properly.
He claimed he did not understand that by signing the document he was making himself liable for monies borrowed to fund the development
AIB opposed the appeal.
The Court of Appeal found Mr Justice Kelly was correct in his approach.
The facts were not in dispute and Mr Mansfield knew he was signing a legal document which created legal obligations.
While it was accepted Mr Mansfield had certain difficulties regards reading he was a businessman with commercial experience, the three-judge appeal court said.