| 8.2°C Dublin

Couple told to pay back €15m loan

A COUPLE have been ordered by the Commercial Court to repay to Bank of Ireland (BoI) €15.6m arising out of a loan for the refinancing of borrowings on property.

In July 2007, BoI offered a loan of €15m to Des and Marie O'Donnell, Leopardstown Rise, Leopardstown Road, Dublin, to refinance an existing borrowing with First Active in relation to a site at Newtownpark Avenue, Blackrock, Dublin, as well as to allow an equity release of €5m.

Mr O'Donnell was also ordered to repay around €3.4m arising out of two other loans from the bank, bringing the total summary judgment entered against him to just over €19m.