Seamus Dolan, John Waldron and John A. Waldron ordered over loan guarantees

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

Seamus Dolan, John Waldron and John A. Waldron were ordered to pay summary judgment in the High Court on 9 February 2016 over guarantees for company loans. The claim concerned €3,893,135.06, plus interest, owed by DW Developments Ltd, for which the three defendants were directors and shareholders.

ACC Loan Management Ltd relied on five guarantees and indemnities covering the company’s liabilities. The facilities included lending for construction, a community centre, land-bank purchase and working capital in County Mayo.

The defendants argued that the guarantees and evidence were defective and that arrangements concerning development and repayment created a defence. Ms Justice Baker rejected those arguments, finding no bona fide defence requiring a full hearing.

The court also rejected the claimed joint venture and alleged assurance that repayment would be deferred until units were sold.