Friends First has secured summary judgment for €2.28 million against a Dublin businessman over his failure to repay money borrowed for equity fund investment in various Quinlan Private investments.

In granting judgment against Kevin Brophy, Mr Justice Peter Kelly remarked it would be no consolation to him to know he was not alone, as a lot of people appeared to have made equity fund investments “to their cost”.

There was no appearance by Mr Brophy, Pembroke Gardens, Ballsbridge, Dublin, yesterday. Hugh O’Keeffe, for Friends First, said it had been indicated that the application would not be opposed.