Bank seeks €7.5m judgment against Dublin property developer

A bank's application for summary judgment for €7.5m against a Dublin man over an alleged failure to repay loans has been admitted to the fast-track Commercial Court list, writes Ann O'Loughlin.

Ulster Bank Ireland Designated Activity Company is seeking judgment against Liam Mulvaney, of Sarsfield Road, Inchicore, Dublin 8.

The bank says it loaned monies under various agreements to Mr Mulvaney and other co-borrowers between 2004 and 2010.

The loans, the bank claims, were used for purposes including the purchase of lands and properties in Ireland and Romania as well as working capital to assist with various investments properties.

The bank added it entered into an arrangement in 2015 with financial fund Promontoria Aran Ltd (PAL) where it holds the right title, security and interest in the loans in trust for the benefit of PAL.

Since 2013 the bank and its agents claim they sought to engage with Mr Mulvaney, and his representative a Mr Neil McThreanlamh (Neil Armstrong) from a group called Lay Litigant Ireland, in a bid to restructure the loans.

However no agreement was reached and the monies were not repaid.

The bank said it made a demand for repayment of all sums allegedly due in January of this year.

A receiver was appointed over the assets of Mr Mulvaney.

It is claimed Mr Mulvaney is opposed to the receiver's appointment and that he and his co borrowers have refused to hand over possession of the properties.

The bank has also made an application for summary judgment for €7.528m against Mr Mulvaney which it sought to be admitted to the Commercial Court list.

Representing himself Mr Mulvaney said he needed time to get lawyers to represent him in the proceedings.

Mr Justice Brian McGovern, entered the case to the Commercial Court list and adjourned it to next March.


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