A CALIFORNIA-BASED interior designer is being pursued by ACCBank for €1.9 million over loans advanced to buy investment properties in Kinsale, Co Cork.
Ms Justice Mary Finlay Geoghegan yesterday transferred the bank’s proceedings against Haley McGuire, a US citizen, of Wells Drive, Tarzana, California, to the Commercial Court.
After counsel for Ms McGuire said he wanted to see a copy of his client’s mortgage protection policy with the bank and other documents in considering the defence to be raised, the judge agreed to adjourn the matter to next month.
Counsel for Ms McGuire rejected as “scandalous” concerns expressed by the bank that the offering for sale of Ms McGuire’s California home might be an attempt to frustrate any judgment.
Ms McGuire is an interior designer who purchases properties, upgrades them and sells them, and the California house had been for sale since 2008 before any demand, counsel said.
In its claim, ACC said the California property is valued at some $3.5 million and, from that value, the bank deduced she is a person of “real substance”.
Bernard Dunleavy, for ACC, had earlier rejected claims of delay by the bank in bringing the proceedings to an extent that would disentitle it to avail of the fast-track procedures of the Commercial Court.
Counsel said there had been correspondence with Ms McGuire herself and, at a later stage, with solicitors acting for her. The bank had also to await a legal opinion concerning the appropriate forum for its proceedings.
The proceedings arise from a €1.85 million loan offer advanced by ACC to Ms McGuire in September 2004 for the purchase of seven investment properties at Brownsmills, Kinsale. The bank claims Ms McGuire failed to adhere to the agreed schedule for repayment and it demanded repayment in September 2009 of some € 1.9 million but that sum had not been repaid. It claims some €1.96 million remains due.
