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Bank settles €2.5m claim against Guerins

A BANK has settled proceedings against businessman Jimmy Guerin and his wife over unpaid property loans.

The settlement terms agreed with ACC Bank include that the couple have consented to €2.5m in judgement orders against them.

A solicitor for the couple told the Commercial Court last week they were opposing the bank's application for summary judgment but needed time to put matters on affidavit.

Yesterday, Rossa Fanning, for ACC, told Mr Justice Peter Kelly an agreement had been reached between the sides.

Under that agreement, the judge entered judgment in the sum of €2,519,017 against the defendants.

The case was brought against Mr Guerin, a brother of slain journalist Veronica Guerin, and his wife Louann, of Thormanby Lawns in Howth. It related to a number of loan facilities, including one for €700,000 to refinance the couple's home.



Repayment

As a consequence of the borrowers allegedly failing since November 2008 to meet repayments due under that loan, the bank demanded repayment in full, plus interest, in February last.

No repayment had been made, it said.

ACC appointed Simon Coyle of Mazars as receiver and manager of Sion House on January 5 last. It claimed some €2.5m remained due and owing against both defendants.

hnews@herald.ie


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