Wednesday 21 March 2018

Developer in Lynn-linked case has €2.7m judgment lodged against him

Laura Noonan

GALWAY developer Brian Cunningham, who famously listed fugitive solicitor Micheal Lynn as a witness in a 2007 legal battle, has been personally hit with a €2.7m registered judgment.

The judgment is listed in the latest edition of Stubbs Gazette and was registered in favour of lender First Active, which is pursuing Mr Cunningham's companies for loans of €60m.

The judgment is understood to relate to the portion of the €60m which was personally guaranteed by Mr Cunningham, plus a sizable interest bill.

Ulster Bank, which owns the now-defunct First Active, last night declined to comment on the case, citing "customer confidentiality".

Mr Cunningham's solicitor, Dublin-based Patrick Cunningham, stressed that the €2.7m registered judgment was just a small part of the legal battle between his developer client and First Active. "I think it is very important to note that the case is under appeal [in the Supreme Court] and the matter being therefore sub judice," he said.

"It is also important to have an understanding of the entirety of the case and the 13-odd judgments which have been handed down by the court."

The Cunningham appeal is understood to relate to points of law relating to previous judgments handed down by Mr Justice Frank Clarke.

Accordingly, there are no plans to recall Mr Lynn, who dramatically failed to appear as the final witness last time despite suggestions of video-link arrangements.

The dispute between Mr Cunningham and First Active stems from loans for three development schemes, including a site in Galway's Salthill, and an upgrade of the Finglas shopping centre in Dublin.

First Active went on to appoint a receiver to the Cunningham Group in 2004, triggering a slew of legal actions from Mr Cunningham.

Irish Independent

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