Allied Irish Banks PLC v Sheedy (Approved) [2024] IEHC 145 (08 March 2024)

Allied Irish Banks PLC v Sheedy (Approved) [2024] IEHC 145 (08 March 2024)

The court held that Everyday Finance DAC was entitled to be substituted as plaintiff and to execute the judgment, as the loan and judgment were validly assigned by deed of transfer, consent of the defendant was not required, the settlement agreement did not extinguish the judgment, and the redactions to the deed of transfer did not prejudice the defendant or invalidate the assignment.

Citation
[2024] IEHC 145
Parties
Original Plaintiff: Allied Irish Banks PLC; Applicant/substituted Plaintiff: Everyday Finance DAC; Defendant: Anthony Sheedy
Jurisdiction
Ireland
Judgment Date
08 March 2024
Procedural Posture
Summary Proceedings for Monetary Judgment and Substitution Application / Post Judgment Substitution and Execution Application
Outcome
Application granted
Legal Topics
Assignment of Debt, Substitution of Parties, Execution of Judgment, Settlement Agreements, Redaction of Documents
Banking Law Contract Law Civil Procedure Assignment of Debt Substitution of Parties Execution of Judgment Settlement Agreements Redaction of Documents

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Parties

Allied Irish Banks PLC

Original Plaintiff

Everyday Finance DAC

Applicant/substituted Plaintiff

Anthony Sheedy

Defendant

Procedural Posture

Summary Proceedings for Monetary Judgment and Substitution Application / Post Judgment Substitution and Execution Application

Legal Issues

  1. 1 Whether Everyday Finance DAC should be substituted as plaintiff post-judgment
  2. 2 Whether the assignment of the loan and judgment to Everyday Finance DAC was valid
  3. 3 Whether the settlement agreement extinguished the High Court judgment

Ratio Decidendi

The court held that Everyday Finance DAC was entitled to be substituted as plaintiff and to execute the judgment, as the loan and judgment were validly assigned by deed of transfer, consent of the defendant was not required, the settlement agreement did not extinguish the judgment, and the redactions to the deed of transfer did not prejudice the defendant or invalidate the assignment.

Court Disposition

Application granted

Orders

  • Everyday Finance DAC substituted as plaintiff
  • Leave granted to execute judgment dated 30 June 2017