Courts / Dublin / Report
Fund's application for summary judgement against ex Central Bank director is resolved
Summary
In October 2018 the Commercial Court struck out a summary judgement application for €1.7 million against former AIB and Central Bank director Bernard Somers and his wife Marguerite Somers. The claim, brought by Launceston Property Finance DAC, arose from a €3.62 million loan made by Anglo Irish Bank in 2010 and secured by the Somers' home in Foxrock. After Anglo's collapse the loan was transferred to Irish Bank Resolution Corporation and later acquired by Launceston in 2014. Launceston alleged the couple had failed to repay the loan and that the home was used as security. The parties had been adjourned for talks, and on 15 October 2018 the parties agreed to resolve the matter. With the consent of both sides, Mr Justice Robert Haughton struck out the case, and no settlement details were disclosed in open court.
Who, what, where, when and why
What: Report matter: Fund's application for summary judgement against ex Central Bank director is resolved. Procedural stage: hearing_or_decision
When:
- October 4th, 2017 Adjournment
- July 2015 Other
- 2018-10-15 Publication
Places mentioned
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