ACCBANK HAS secured an order overturning the transfer by a mother of her family home in Cork to her two sons.

The bank had alleged that Eileen Daly transferred the house at Kinvara, Woodleigh Park, Model Farm Road, to sons Stephen and Ian to frustrate its efforts to recover a €2.6 million judgment previously obtained against her over unpaid loans.

After being told yesterday that Ms Daly and her sons were not proceeding with any defence to the bank’s claim for orders setting aside the transfer, Mr Justice Peter Kelly made the order.

On the application of Lyndon MacCann SC, for the bank, and also in circumstances where no defence was proceeded with, the judge made an extra order setting aside a transfer of shares in a company, Galeport Ltd, by Ms Daly to Stephen Daly and Ian Daly made between May 2009 and May 2010.

He has adjourned to later this month the bank’s application for additional orders aimed at securing possession of some €450,000 frozen in a bank account in Co Louth.

ACC has alleged those monies, although in the name of a company, are beneficially owned by Ms Daly’s ex-husband, former Revenue inspector James Leonard Daly – otherwise James Daly, Shay Daly and Seamus Daly – who is being pursued separately by the bank over a €2.5 million judgment.

Mr Daly is suspected by the bank to be in Spain. An arrest warrant was issued for him by the judge last month after he failed to turn up at the Commercial Court for continuing examination about his assets as part of the bank’s efforts to enforce judgment.

Just hours before he was due to appear in court on February 3rd last, Mr Daly had sought to transfer €450,000 from an account in Co Louth to Spain, the judge was told.

This month ACC secured orders appointing a receiver over bank accounts and rents from several properties as part of its efforts to recover judgment against both Mr Daly and Ms Daly.