Bank of Ireland Sues Businessman for €12m Over Development Loans
Date: May 12th, 2010 | Filed under: Mediation NewsA businessman, Patrick White of Kilberry Manor, Wilkinstown, Navan, Co Meath is being sued by Bank of Ireland for about €12 million in two separate actions arising from unpaid loans granted for developments in Co Leitrim and Co Kildare, the Commercial Court heard in May.
The €4.2 million loan was for the building of 18 apartments and 14 lodges in Co Leitrim. The €6.49 million was for the refinancing and equity release of a commercial property in Co Kildare.
Claims have also been made against Mr White by several other financial institutions and lay creditors and it has been agreed those claims will be addressed with the Bank of Ireland claim in mediation talks, Mr Justice Peter Kelly was told. A solicitor for Mr White said the parties had agreed to try and mediate their differences within a six-week period. If that was not successful, the bank’s action would proceed to hearing. Mr Justice Kelly admitted both actions to the Commercial Court.
