Bank sues businessmen for more than €44m
TWO men are being pursued for some €44m summary judgment orders over alleged default on loans issued to buy land in Co Dublin.
ACC Loan Management Ltd (ACCLM) - formerly ACC Bank plc - has brought proceedings against Frank Connon, of Tullyrisk, Birr, Co Offaly, and Fergus Connon, Merryfalls, Sillogue Lane, Finglas, Dublin, over loans issued by ACC Bank plc on dates from 2009.
Yesterday Mr Justice Brian McGovern agreed to transfer the proceedings against Frank Connon to the Commercial Court list. He adjourned, to later this month, the transfer application in relation to the claim against Fergus Connon to allow the plaintiff address service and other issues.
ACCLM claims the relevant loans, for some €35m, were issued in 2009 and secured by mortgages on some 137 acres at Merryfalls, Meakstown, Finglas, a smaller plot of land and a first legal charge over the entire issued share capital of Brian Connon Ltd, a company of the defendants.
It is claimed by ACCLM that more than €44m, plus interest, is now due.