ACC Bank has obtained €5.6 million summary judgment orders against a Co Donegal couple over guarantees given by them over unpaid loans to their building company, now in receivership.

At the Commercial Court yesterday, Mr Justice Peter Kelly granted the judgment order against Michael and Maureen Timoney, directors of Michael Timoney and Son Development Ltd (in receivership), Clyhore, Ballyshannon, Co Donegal, over guarantees for three commercial loans advanced in 2004 and 2006.

A receiver was appointed to the company on January 19th last.

Counsel for the couple did not defend the application but sought a three-month stay on the order in the hope the receiver of 23 properties built by the company at Ballinamore, Co Leitrim, may achieve sales.

In reply to the judge, counsel conceded there was little reality to that hope of selling the 23 properties.

Mr Justice Kelly agreed there was little reality and granted the application by Rossa Fanning, for ACC, for summary judgment in the sum sought.