Allied Irish Bank PLC -v- Moloney & anor [2016] IEHC 346 (20 June 2016)

Allied Irish Bank PLC -v- Moloney & anor [2016] IEHC 346 (20 June 2016)

The defendants' assertion of a binding oral agreement is not credible given the express terms of the non-disclosure undertaking, the absence of evidence of a concluded agreement, and their own conduct and correspondence. No credible defence exists to summary judgment, and the plaintiff is entitled to judgment for the outstanding loan. Injunctions sought by the defendants are refused as damages are an adequate remedy and no legal basis was established.

Citation
[2016] IEHC 346
Parties
Plaintiff: Allied Irish Banks PLC; Defendant: Bill Moloney; Defendant: Eamonn McCarthy
Jurisdiction
Ireland
Judgment Date
20 June 2016
Procedural Posture
Summary Judgment Application / Final Judgment
Outcome
summary judgment granted to plaintiff
Legal Topics
Summary Judgment, Oral Agreements, Joint and Several Liability, Injunctions, Loan Restructuring, Mortgage Enforcement
Banking Law Contract Law Property Law Summary Judgment Oral Agreements Joint and Several Liability Injunctions Loan Restructuring +1 more

Case Brief

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Parties

Allied Irish Banks PLC

Plaintiff

Bill Moloney

Defendant

Eamonn McCarthy

Defendant

Procedural Posture

Summary Judgment Application / Final Judgment

Legal Issues

  1. 1 Whether a binding oral agreement existed between the parties to vary the loan terms
  2. 2 Whether the defendants have a credible or arguable defence to summary judgment
  3. 3 Whether the defendants are entitled to injunctions restraining the bank from appointing a receiver or compelling consent to property sales

Ratio Decidendi

The defendants' assertion of a binding oral agreement is not credible given the express terms of the non-disclosure undertaking, the absence of evidence of a concluded agreement, and their own conduct and correspondence. No credible defence exists to summary judgment, and the plaintiff is entitled to judgment for the outstanding loan. Injunctions sought by the defendants are refused as damages are an adequate remedy and no legal basis was established.

Court Disposition

summary judgment granted to plaintiff

Orders

  • Summary judgment for Allied Irish Banks PLC in the sum of €10,872,303 against the defendants
  • Refusal of injunction restraining appointment of receiver