Ulster Bank granted judgment for €18m

ULSTER BANK has secured summary judgment for almost €18 million on consent against Dublin businessman Raymond Stokes. The sum includes a summary judgment order for about €6.25 million also made against Mr Stokes’s wife Ann.

In related proceedings, the bank is pursuing Anthony Dean, Milltown Bridge Road, Dublin, for more than €5.56 million.

Paul Burns SC, for the bank, told Mr Justice Peter Kelly yesterday that Mr Stokes, Stoney Road, Dundrum, Dublin, was consenting to judgment for €6.49 million arising from loan accounts held at branches of Ulster Bank Ireland Ltd in Dundrum and Dunshaughlin.

The purpose of those loans included to purchase and develop commercial units at Dundrum and to purchase development lands at Dunshaughlin, Co Meath. It was claimed the loans were due for repayment in 2009.

In separate proceedings, the judge was told Mr Stokes and his wife Ann were consenting to judgment for €6.25 million under a loan facility of April 2009 which continued an existing facility granted to buy a property at Palmerston Road, Dublin, for €5.85 million. More than €6.25 million was due and owing under that facility, the bank claimed.

In separate proceedings against Mr Stokes and Mr Dean, Ulster Bank sought summary judgment for €5.56 million against them arising from a loan in early 2009 to purchase and develop lands at Kiltale, Co Meath. Mr Stokes consented to judgment in that sum.

Mr Burns said the bank was satisfied Mr Dean was in when a summons server called but had not answered the door. Mr Justice Kelly granted leave to the bank to effect substitute service on Mr Dean and adjourned the application against him.