A RECEIVER appointed by ACC Bank has brought court proceedings seeking vacant possession of agricultural lands in Co Roscommon where some 140 cattle, sheep and horses are being kept.
Receiver Kieran Wallace wants to sell the lands, with a current estimated value of €2.2 million to €2.5 million, to meet a debt of some €3.7 million arising from an unpaid commercial loan of more than €3.1 million by ACC in 2007 for the purchase of the lands, the Commercial Court was told.
Ms Justice Mary Finlay Geoghegan yesterday refused to admit the case to the Commercial Court, which fast-tracks business disputes, on grounds it was essentially an application for an order for possession and removal of animals.
Hugh O’Flaherty, for the defendants, said there were no issues of animal welfare involved as there was enough winter feed for the animals and the case was more appropriate to the Circuit Court.
ACC and Mr Wallace have brought proceedings against Aidan and Rita Cunniffe, Fortfield House, Kiltoom, Athlone, and John Lawless, Curry, Brideswell, Athlone, arising from failure to repay a €3.1 million loan to them in August 2007 to buy 134 acres and a house at Ballyforan, Co Roscommon.
The facility, including interest, was to be repayable from the net sale proceeds of the lands at Ballyforan and other lands, and the bank’s security was a mortgage over the house, the Ballyforan lands and other lands.
When the loan was not repaid, ACC appointed Mr Wallace receiver over the mortgaged lands on October 13th last.
Mr Wallace said Aidan Cunniffe and his brother-in-law John Lawless are involved in farming and own a pub at Dysart, Co Roscommon, while Rita Cunniffe, wife of Aidan Cunniffe, is a teacher.
