Monday 29 May 2017

Developer collapses before €11.75m court case begins

Tim Healy

A DEVELOPER being pursued by a bank for €11.75m had to be taken to hospital after he collapsed just before his case was to be heard in court yesterday.

Bank of Ireland (BoI) was seeking an order for George Wilkin, Roselawn Green, Boghall Road, Bray, Co Wicklow, to repay the money he owes.

Shortly before the case was due to open at the Commercial Court, Mr Wilkin collapsed and required immediate medical attention.

An ambulance crew arrived within minutes and Mr Wilkin was taken to the Mater Hospital in Dublin. Mr Justice Sean Ryan agreed to adjourn the matter.

The case -- after talks between the sides failed to resolve the matter -- had been expected to last for five days.

The court heard that both parties were agreeable for the case to be mentioned before Mr Justice Peter Kelly at the Commercial Court next Monday.

BoI is seeking judgment for approximately €11.75m over loans advanced between 2005 and 2007 to allow Mr Wilkin invest in residential development sites in Bray.

The bank demanded repayment of the loans 12 months ago after alleging Mr Wilkin had fallen into arrears.

In opposing the bank's action, Mr Wilkin's legal team argued that the loans were not true "on-demand" facilities and the bank was not entitled, at this stage, to call them in.

Irish Independent

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