Courts

Thursday 24 July 2014

McBrearty being sued by AIB over debt of €250,000

NIAMH HORAN and NICK WEBB

Published 30/03/2014|02:30

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Frank McBrearty Snr.  who was awarded €2.5 Million at Castlebar Courthouse, Co. Mayo, yesterday. Photograph : Keith Heneghan / Phocus
Frank McBrearty Snr

AIB has launched a lawsuit against garda harassment victim Frank McBrearty Sr and his wife Rosalind over a debt of close to €250,000 related to his settlement from the State.

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Donegal publican Frank McBrearty Sr was awarded almost €2.5m by the High Court in respect of damage suffered by his business as a result of garda harassment following the death of Donegal man Richie Barron. The McBrearty family were innocent victims of a murder charge in 1996. This led to the establishment of the Morris Tribunal and revelations of garda corruption.

Mr McBrearty's son, Frank Jr, also settled with the State for €1.5m. Two years ago, Mr McBrearty Jr took AIB to court in Northern Ireland over an investment made at the bank from the €1.5m compensation he received from the State after the Morris Tribunal.

A High Court in Belfast found that AIB and its investment arm engaged in "negligent misrepresentation" of the terms of an investment product sold to the couple.

It is understood that Frank McBrearty's case with AIB relates to a similar investment scenario. "It's related to the case in the North," according to one source.

Sources have revealed to the Sunday Independent that AIB sought a judgement against Mr McBrearty Sr last week over the repayment of around €250,000 related to a geared-up investment made with the proceeds of their settlement from the State.

Mr McBrearty's legal team is now looking to make an appeal in the Master's Court in Dublin next week to move to a full hearing. This will enable the McBreartys to tell their side of the story in court, according to sources.

An AIB spokesman said the bank would not "comment on legal actions".

Sunday Independent

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