A bank is entitled to a €7 million judgment against a Dublin businessman, a High Court judge has ruled.

AIB and AIB Mortgage Bank had sought summary judgment against Peter Flanagan, Back Road, Malahide, Dublin, arising from loans issued in 2008 and 2009.

Mr Flanagan has considerable experience in relation to the restaurant business and property investment, the court heard.

Granting the bank’s application, Mr Justice John Hedigan rejected the grounds of defence proposed by Mr Flanagan, including that there was a proposal to permanently park the bank debt.

The judge said no evidence was proffered in relation to that alleged proposal and there was no credible basis for believing it might be forthcoming.

“The proposition that the bank would forgive in excess of €7 million in debt due to the behaviour of an employee of which they were unaware, and of which the defendant was clearly aware, borders on the absurd,” he said.