A MAN HAS consented before the Commercial Court to judgment for €2.2 million against him in favour of ACCBank while, in separate proceedings, the bank has sought €6.1 million summary judgment against another man.
ACC had brought proceedings against PJ Munnelly, Athlone, Co Westmeath, arising from a loan advanced to buy a commercial site at Roscommon Road, Athlone, Co Westmeath.
Ms Justice Mary Finlay Geoghegan was told yesterday by Rossa Fanning for ACC that Mr Munnelly was consenting to judgment for €2,212,707 and the judge made that order.
In separate proceedings, ACC is seeking summary judgment for some €6 million against Richard Walsh, Walsh Consulting Ltd, Lapp’s Quay, Cork. The case arises from loans advanced to Mr Walsh from 2005, including to buy property in Killorglin, Co Kerry, and a €5.24 million facility of August 2007 to refinance his existing Ulster Bank facilities and to provide an equity release of some €1 million.
It is alleged Mr Walsh defaulted on his repayment obligations and had also failed to provide satisfactory proposals to address the matter. ACC claims more than €6.1 million is now due and owing.
Ciarán Lewis, for Mr Walsh, said ACC had encouraged his client to refinance with it and had led him to believe the arrangement agreed was long-term. Mr Lewis said he believed his client had a prima facie defence.
Ms Justice Finlay Geoghegan fixed the summary judgment application for hearing in May.
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