NATIONAL IRISH Bank was granted judgment in the High Court yesterday for €8.615 million against RQB Limited, formerly known as Redquartz Boundary, the property investment firm backed by financier Niall McFadden and builder Paddy Kelly.

Mr Justice Daniel Herbert adjourned until October 12th in the Commercial Court a motion seeking judgment personally for €8.5 million against Mr McFadden, of Avoca Wood, Blackrock, Co Dublin.

The €8.615 judgment against RQB includes interest to date.

Mr McFadden, Mr Kelly, of Clonmore, Shrewsbury Road, Ballsbridge, Dublin 4, and Paul Pardy, of Dunsandle Court, Castleknock, Dublin 15, were all initially sued by NIB on foot of personal guarantees.

The guarantees had been given for an overdraft facility for RQB. Mr Kelly and Mr Pardy have already consented to judgment for €8.5 million against each of them.

NIB is also seeking an additional £1 million (€1.17 million) summary judgment order against Mr Kelly over a term loan given towards investment by him in Club Company Acquisition Holdings Ltd.

NIB moved against all three businessmen at the end of July and was the latest of several banks to move against Mr Kelly after he had told the Commercial Court earlier this year he was considering bankruptcy.

To date judgment orders for more than €80 million have been secured against Kelly.

Barrister Brian McGuckian told the court the multimillion-euro debt arose from an overdraft facility of December 2005 for some €12 million made available to RQB for the purpose of acquiring certain properties.

The bank claimed the three businessmen signed a guarantee on December 23rd, 2005, indemnifying it in relation to that overdraft.