Joseph Comerford launches €3m refinancing fee action

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Joseph Comerford and his two sons launched a High Court action against Ulster Bank over a €3m refinancing payment they claim they were forced to pay. The proceedings were reported on 21 June 2018.

The Comerfords claim the payment followed unreasonable and excessive pressure to refinance loans. They seek declarations, repayment and damages for alleged economic loss, undue influence, breach of duty and duress. The proceedings concern the Academy Plaza Hotel and name Ulster Bank Ireland DAC and UB SIG as defendants.

At a preliminary ex parte application, Mr Justice Denis McDonald granted permission to bring proceedings. The action stood adjourned.