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Tag: repayments

Repossession Orders

27th June

TWELVE ORDERS for possession were granted at the High Court yesterday, including six against a man who claimed the court was acting on a “whim” and “at the behest of the bank”.

The investor landlord and his wife had taken out a loan from ACC Bank secured against eight properties in Meath and Louth in 2006.

After running into difficulties, they sold two of the properties in 2009.

The proceeds were used to clear their arrears and the balance was paid towards their debt. But they fell behind with repayments again and the Commercial Court subsequently gave a judgment against the couple for €1.9 million and a receiver was appointed to the properties. They now owed €2.1 million, counsel for the lender said.

The defendant told Miss Justice Elizabeth Dunne he and his wife had an agreement with the bank that the balance of … Read More »