Allied Irish Banks Plc & anor -v- Whelan & anor [2015] IEHC 135 (03 February 2015)

Allied Irish Banks Plc & anor -v- Whelan & anor [2015] IEHC 135 (03 February 2015)

Defendants failed to disclose a bona fide defence to the plaintiffs' claims for repayment of the loans. The only arguable defence relates to the alleged misapplication of a €5,000 payment, which is remitted to plenary hearing. The cross-claim for negligent investment advice is independent and does not constitute an equitable set-off, so summary judgment is granted for the loan sums less the disputed €5,000, with a stay on execution for €470,000 pending prosecution of the cross-claim.

Citation
[2015] IEHC 135
Parties
Plaintiff: Allied Irish Bank Plc; Plaintiff: AIB Mortgage Bank; Defendant: Patrick Whelan; Defendant: Brian Whelan
Jurisdiction
Ireland
Judgment Date
03 February 2015
Procedural Posture
Summary Judgment Application / Judgment on Application for Summary Judgment
Outcome
Summary judgment granted in part
Legal Topics
Summary Judgment, Loan Agreements, Equitable Set Off, Cross Claims, Negligent Investment Advice
Banking Law Contract Law Civil Procedure Summary Judgment Loan Agreements Equitable Set Off Cross Claims Negligent Investment Advice

Case Brief

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Parties

Allied Irish Bank Plc

Plaintiff

AIB Mortgage Bank

Plaintiff

Patrick Whelan

Defendant

Brian Whelan

Defendant

Procedural Posture

Summary Judgment Application / Judgment on Application for Summary Judgment

Legal Issues

  1. 1 Whether the plaintiffs are entitled to summary judgment for unpaid loans
  2. 2 Whether the defendants have disclosed a bona fide defence to the claims
  3. 3 Whether the defendants' cross-claim for negligent investment advice constitutes an equitable set-off or independent claim

Ratio Decidendi

Defendants failed to disclose a bona fide defence to the plaintiffs' claims for repayment of the loans. The only arguable defence relates to the alleged misapplication of a €5,000 payment, which is remitted to plenary hearing. The cross-claim for negligent investment advice is independent and does not constitute an equitable set-off, so summary judgment is granted for the loan sums less the disputed €5,000, with a stay on execution for €470,000 pending prosecution of the cross-claim.

Court Disposition

Summary judgment granted in part

Orders

  • Judgment for plaintiffs against first defendant for €21,255.64 (as of 9 December 2014) less €5,000, with €5,000 remitted to plenary hearing
  • Judgment for plaintiffs against both defendants for €2,659,869.75 (as of 9 December 2014), sum to be updated, with a stay on execution for €470,000 for three months pending prosecution of cross-claim