Courts / Ireland / Report
Former taxing master agrees to judgement in favour of bank
Summary
In a High Court hearing on 20 April 2016, former taxing master James Flynn and his company Fortberry Ltd consented to judgments in favour of AIB. Flynn agreed to a €2.5 million judgment, while Fortberry Ltd agreed to a judgment exceeding €5 million. The bank's claim arose from loans it provided to Fortberry Ltd in 2008 and sought repayment of the amounts it alleged were due. Flynn, a director and shareholder of the company, was also named in the claim because of a guarantee he allegedly entered into for the loan facilities. The court, presided over by Mr Justice Paul Gilligan, granted a stay on the execution of the judgments until October to allow Flynn and the company to sell assets, including properties, to reduce the debt. The stay was conditional on full cooperation with the bank, and the parties were allowed to apply for an extension in October.
Who, what, where, when and why
What: Report matter: Former taxing master agrees to judgement in favour of bank. Procedural stage: hearing_or_decision
When:
- 2016-04-20 Publication
Places mentioned
- High Court
Topics
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