AIB IS seeking €43 million judgment orders against a building company and three of its directors over unpaid loans issued for developments in Co Kerry, including a nursing home and 81 associated residential units.
The bank is also seeking judgment orders for more than €23 million against two other men over guarantees allegedly provided by them over some of the loans.
The proceedings are against Galvin Developments (Killarney) , Muckross Road, Killarney; Souter Enterprises, Michael Street, Limerick; Jeremiah Galvin, Muckross Road, Killarney; Colm Galvin, Woodlawn, Killarney; Denis Galvin, Aghadoe, Killarney; John Shee, Lishee, South Circular Road, Limerick, and Joseph Hanrahan, Cedar Cottage, Castletroy, Co Limerick.
Mr Justice Peter Kelly transferred the case to the Commercial Court and entered judgment for some €13.2 million against Souter, it having failed to enter an appearance in the case. The proceedings against the other defendants were adjourned for two weeks.
AIB is seeking summary judgment orders for €43.9 million against Galvin Developments; summary judgment for some €43.38 million against the three Galvin defendants and orders for €23.5 million each against the other two defendants.
The bank said it had not received any formal response a demand issued by it for payment but it understood diffrences had arisen between the Galvin defendants on the one hand and Mr Shee and Mr Hanrahan on the other.
It said the Galvin defendants had claimed their liabilities under the guarantees were restricted and the bank had recourse only to a 120-acre site at Cappagh, Co Kerry. The Galvin defendants also claimed Mr Shee and Mr Hanrahan had a liability for some of the sums claimed by the bank against the Galvin defendants.
AIB contends the claims by the Galvin defendants do not relect agreements made with the bank. It also claims none of the defendants had advanced concrete propoals to reduce their indebtedness.
