AIB pursues businessman for €6.2m

A businessman being pursued by AIB over loans of some €6.2 million is also being pursued by other banks, the Commercial Court heard yesterday.

Mark Sanfey SC, for Declan Clancy and his wife Louise Daly, argued AIB was only now seeking to fast-track its application for judgment against the couple due to concerns other banks might "get in ahead" of it.

The loan facilities under which the bank was suing expired in March 2011 and AIB was moving now in an effort to get a judgment registered against unencumbered properties of his clients, counsel said.

The bank rejected any culpable delay by it and said it had engaged with the couple in relation to addressing their indebtedness.

Mr Justice Peter Kelly said little was said by AIB as to what engagement was taking place in 2011 and 2012 and he ruled AIB had not demonstrated the case was sufficiently urgent to entitle it to avail of the Commercial Court’s faster procedures. The case will now proceed via the slower procedure in the High Court Master’s list.

AIB is seeking judgment for some €6.2 million against Mr Clancy and for some €1.2 million against Ms Daly arising from loan facilities and a guarantee.