A BANK is seeking court orders against a property investment company for the repayment of loans of €2.5 million advanced to help buy properties here and in Canada and Romania.

The application by Allied Irish Bank for judgment in that sum from Stopwell Investments Ltd will be heard by the Commercial Court next month.

AIB claims it loaned the money on dates from 2003 to November 2006 to Stopwell, of Avonlea Demesne, Lucan, Co Dublin, on foot of five accounts operated by the company at the AIB branch at Patrick Street, Cork.

The money was allegedly borrowed in three separate tranches.

Mr Justice Peter Kelly admitted the proceedings to the Commercial Court and adjourned the application to January 17th.