Business

Monday 20 August 2018

Overcharging claim 'sprung' on bank at 11th hour - judge

The Commercial Court has granted summary judgment for €3.5m against a Mayo couple arising out of debts provided to them and their company by AIB and AIB Mortgage Bank. (stock photo)
The Commercial Court has granted summary judgment for €3.5m against a Mayo couple arising out of debts provided to them and their company by AIB and AIB Mortgage Bank. (stock photo)

Tim Healy

The Commercial Court has granted summary judgment for €3.5m against a Mayo couple arising out of debts provided to them and their company by AIB and AIB Mortgage Bank.

Thomas and Josephine Maloney, Carramore, Kiltimagh Road, Knock, Co Mayo, and Thomas Maloney Builders Ltd, conceded they owed around €3.5m after deducting disputed sums in relation to some of the loan facilities.

Mr Justice Brian McGovern granted judgment for some €3.56m which represented the amount due, less €192,000 which the Maloneys claimed had been overcharged on the loans.

The judge remitted for hearing claims in relation to the alleged overcharging matter until next week. Mr Justice McGovern said the evening before the summary judgment hearing on January 25 last, the defendants provided an affidavit from a Northern Irish financial consultant who audits bank accounts and who said the Maloneys should be given credit of €192,000 for overcharging by the bank. The judge said the affidavit was "sprung upon the plaintiffs (banks) at the 11th hour", but permitted the defendants to rely on it.

He'll hear counsel for both sides next week on whether his judgment order, for €3,5m, would be against the Maloneys jointly and severally or whether a portion of the judgment should be against the company.

Indo Business

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