Courts / Sligo / Report
Bank entitled to possession of late Sligo woman's home in 'Life Loan' case
Summary
The High Court ruled that Bank of Ireland Mortgage Bank is entitled to possession of a property in Ballinfull, Co Sligo, belonging to the estate of the late Bridget Cunningham. The case involved a €60,000 'Life Loan' mortgage taken out by Mrs. Cunningham in 2006/07, which remained unpaid at her death in 2008. Teresa Gillespie, acting as executrix, opposed the bank's 2019 possession claim, alleging it was statute-barred under the 1961 Civil Liability Act and that the bank had delayed action. The bank argued the loan was only payable upon death and that no repayments were made. Mr Justice David Nolan determined that the bank's action for possession was not statute-barred, granting the entitlement to possession. However, he noted that the bank's claim for approximately €90,000 in accrued interest, which substantially exceeds the original loan amount, presents an arguable case regarding limitations and delay. The judge criticized the bank for failing to explain the "enormous delay" in bringing proceedings over 11 years after the death. The matter was adjourned for a full plenary hearing to determine the disputed interest claims, with final orders to be made subsequently.
Who, what, where, when and why
What: Report matter: Bank entitled to possession of late Sligo woman's home in 'Life Loan' case. Procedural stage: charge_or_pretrial
When:
- April 2021 Incident
- 2024-02-06 Publication
Why: The reason why the bank is entitled to possession is because the life loan has not been repaid, the judge said. CNI source report
Case subjects
Respondent
Applicant
Places mentioned
- The High Court
- Sligo
- Mrs Cunningham's estate
- The estate
Topics
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