The High Court granted Deutsche Bank AG summary judgment against Peter Dennis for €1,568,560.89, but refused summary judgment against John Dennis and directed that claim to a plenary hearing.
The two claims arose from loans to separate motor businesses of which Peter and John Dennis were directors. Deutsche Bank sought to enforce personal guarantees after Permanent TSB Finance Ltd (PTSBF) transferred its rights and interests in the loans and guarantees to the bank. The judgment was delivered by Mr Justice Robert Eagar on 20 May 2019.
Peter Dennis argued that he had been misled about the purpose of a loan and about his written consent to assignment of the guarantees. He also disputed whether the bank could rely on the guarantees and raised issues about consideration, the transfer of the debt and the evidence supporting the amount claimed. The bank submitted that his consent permitted assignment and that the alleged defences did not meet the threshold for a trial.
The court said the documents showed that Peter Dennis had signed guarantees and later consented in writing to assignment. It accepted that there could be an allegation of misrepresentation about the consent, but considered this a case based on documents. It found the references to the Spinnaker securitisation irrelevant to the claim. The court granted summary judgment for €1,568,560.89. The judgment records that Deutsche Bank had sought €1,568,607.17, a different amount.
In the separate claim, Deutsche Bank sought €1,195,756.23 against John Dennis. He argued, among other things, that earlier guarantees could not secure the later loan. The court found that two guarantees relied on by the bank had not been produced: those dated 28 June 2008 and 22 December 2008. It said the claim was based on documents and was not satisfied it could grant summary judgment without those guarantees. The court directed that the claim against John Dennis proceed to a plenary hearing; it did not determine that claim by summary judgment.