Judge criticises fund's 'cavalier' attitude in €3.48m demand to woman over dairy farm lands
A High Court judge has criticised a fund's "cavalier" attitude in dealing with a woman whose company operates a dairy farm in Co Tipperary.
Ms Justice Tara Burns made the remarks in a judgment where Anne Cody was granted an injunction, restraining a receiver appointed by Kenmare Property Finance dealing with her lands, pending the outcome of her case.
The judge was "unimpressed" with Kenmare's "cavalier" attitude to the fact it issued a demand for more than €3.48m from Ms Cody when, on the fund's own reckoning, she was only required to pay about €600,000 on foot of a guarantee limited to a first legal charge over the lands.
Kenmare says the current market value of the land is about €600,000 but Ms Cody says it is about €200,000.
Ms Justice Burns was also unimpressed at Kenmare asking the court to disregard the discrepancies between the sum demanded and the "significantly lesser" sum due.
Kenmare argued that lesser sum is owed in any event and there would be cost implications for Kenmare in carrying out these steps again.
"The people of Ireland are entitled to expect in their dealings with the banks that demands made of them are lawful and accurate and that care is exercised in computing and claiming the amounts due.
"On the other side of the fence, individuals who have a liability to a bank must face up to such liability and the courts will not entertain groundless, baseless assertions that sums are not due and owing."