The High Court has ruled that Mars Capital Finance Ireland DAC is entitled to possession of a property at Lisdeen, Kilkee, Co Clare, after finding that its owner had no credible defence to the claim.
Mr Justice Mark Heslin said Gerard Walshe must make immediate arrangements to leave the property after making no mortgage payment for more than 14 years.
The case was a fresh High Court rehearing of possession proceedings concerning property registered in Mr Walshe’s name in Folio CE33286F, County Clare. AIB had advanced him a €250,000 mortgage loan in 2003, secured by a charge over the property. Mars Capital became the registered owner of that charge in June 2021.
The court said Mr Walshe’s last payment on the mortgage account was €20 on 2 August 2011. By 6 October 2022, Mars Capital said €388,357.18 was due, including €107,106.57 in arrears. Payment and possession were subsequently demanded.
Mr Walshe challenged the lender’s entitlement on several grounds, including arguments about transfers of the loan and mortgage, compliance with assignment law and whether the debt existed. He also made allegations suggesting fraud or wrongdoing in the transfer documentation.
Mr Justice Heslin rejected those arguments. He held that the Land Registry was conclusive evidence that Mars Capital owned the charge and found extensive documentary evidence showing the loan and security had validly transferred from AIB through AIB Mortgage Bank to Mars Capital.
The judge also criticised the fraud allegations, saying there was no evidence to support them and that they should not have been made.
He concluded that the mortgage secured the debt, default had occurred, the money had become due and the possession application was made genuinely to realise the security. Mr Walshe had not established a credible defence.
The court therefore decided to grant possession. The matter was listed for 5 December 2025 for final orders, including consideration of costs, with Mars Capital having a presumptive entitlement to recover its legal costs.