High Court tells Jim Mansfield to repay bank €214m
Published 21/12/2011 | 15:09
THE hotelier Jim Mansfield has been told to repay more than €214m to Bank of Scotland Ireland.
The summary judgment orders, made in the High Court this morning, arise from his personal guarantees of debts at various companies of his.
The companies in question are HSS, Jeffel and Park Associates Limited.
Mr. Justice Peter Kelly found that Mr. Mansfield had not made out any arguable case against the claim by the bank.
In his defence Mr. Mansfield had claimed the BOSI had failed to honour an agreement to provide his group with between €17m and €20m to complete the Citywest Convention Centre.
The bank's failure, his counsel argued, to provide the money had delayed the project and caused problems with cashflow.
Mr. Justice Kelly, however, found there was no evidence of a binding contract between the bank and any company to provide this loan.
He then granted judgment for over €214m.
And he rejected an application for a stay on this order, pending a possible appeal to the Supreme Court.
Cian Ferriter SC, for the bank, had opposed the application for the stay by Patrick Leonard, for Mr. Mansfield.
The National Assets Management Agency (Nama) had previously secured a judgment for €74 million against Mr. Mansfield and the bank's demands for repayment dated back to July 2010.
Mr. Mansfield, of Saggart, Co Dublin, was not in court today.
Medical reports have stated he suffers from a number of medical conditions, the most serious being multiple system atrophy.