Saturday 24 March 2018

Couple consent to judgment orders totalling more than €4.3m entered against them

A two week stay applies on execution of the judgment orders
A two week stay applies on execution of the judgment orders

A couple have consented to judgment for more than €4.3m being entered against them at the Commercial Court.

A two week stay applies on execution of the judgment orders.

AIB Mortgage Bank and AIB plc sought judgment for some €1.9m and for some €2.4m respectively against Richard and Ann Marie Lindsay, West Curragh, Naul, Co Dublin.

Andrew Fitzpatrick, for both plaintiffs, told Mr Justice Brian McGovern there was consent to judgment being entered in the sums sought and to the grant of a two week stay on execution of those judgemnt orders.

The judge noted the consent and made the orders in the agreed terms.

In the proceedings, AIB Morgage Bank claimed it advanced a €1.9m loan to the defendants in 2006 of a 20 year term on conditions including they provide, as security, mortgages on five apartments at Chapel Place, Balbriggan, Co Dublin and on various other properties at Grace Park Road and Brunswick Street, Dublin and at Mullingar, Co Westmeath.

It was claimed the AIB Mortgage Loan was substantially in arrears when, in July 2014, the the bank demanded repayment. The defendants had failed to pay any or all of the sum, it was alleged.

The €2.4m claim by AIB arose from a mortgage loan in that sum advanced in 2009.

Security for that facility included loan mortgages on properties at Bann Road, Glasnevin Industrial Estate, Dublin; an apartment at Hayworth Mews, Roganstown, Swords, Dublin, and two apartments at The Richmond, Dublin 7. 

It was alleged that loan was also substantially in arrears when AIB demanded repayment in July 2014.

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