Settlement talks are underway aimed at resolving a dispute between Danske Bank and businessman Bernard Rocca over entitlement to the proceeds of a €1.27 million life assurance policy of his late brother, Patrick Rocca jnr.
Yesterday afternoon, Ross Maguire SC, for Mr Rocca, told Mr Justice Paul Gilligan that, following talks between the parties, there had been “a development” in the case.
The judge granted an application by Mr Maguire to adjourn the matter for mention only to this morning.
In his proceedings against Danske Bank, trading as National Irish Bank, Mr Rocca claims he is the beneficiary of a Hibernia Aviva Life policy on his brother Patrick, who died tragically in January 2009.
Danske Bank claims it is entitled to the proceeds to pay off some €1.5 million outstanding on a €3.85 million mortgage loan advanced by it to Patrick and his wife Annette in 2006.
The bank claims Bernard Rocca in 2004 assigned the policy to Brentwood Properties Ltd, controlled by Patrick Rocca. It claims that this, plus other policies, were assigned to it as security for the loan. Bernard Rocca denies this claim.