AIB entitled to €1.5m judgment against businessman’s widow – court

The widow of a businessman whose building firm collapsed in 2009 is liable for a €1.5 million debt arising from loans and guarantees of her late husband, the High Court has ruled.

Mr Justice Paul McDermott granted judgment to AIB for €1.5 million against Margaret Likely, widow and sole executrix of the estate of James Likely, Driminnin, Barnesmore, Co Donegal.

Mr Likely was a director of James Likely Ltd of Ballyshannon which went into liquidation in 2009 after four decades in operation.

AIB had appealed a decision of the Master of the High Court dismissing the bank’s claim because it was said the claim was pleaded personally against Ms Likely and not as executrix of her husband’s estate.

Ms Likely had acknowledged there was a debt owed to the bank by her husband’s estate and the proceeds of the sale of certain assets were secured in favour of AIB, Mr Justice McDermott said when overturning the Master’s decision

The judge did not accept Ms Likely’s claim the estate was entitled to a set-off against the €1.5 million claim because of alleged misconduct in relation to her husband’s pension.

Ms Likely also had an issue with the involvement of a receiver over certain properties and the value of those assets but that was not a matter to be dealt with in the bank’s application for judgment, the judge added.

He granted judgment for the amount sought.