Courts / Ireland / Report
Fund seeks summary judgement of over €130m against developer
2017-02-27
Hearing Or Decision
Summary
A financial fund, Beltany Property Finance DAC, is seeking a summary judgment of more than €134.5 million against developer Gerry Maguire and several companies of which he is a director. The claim arises from alleged failures to repay loans that were originally advanced to Mr Maguire and the companies by Anglo Irish Bank, and later acquired by Beltany from NAMA. In the first set of proceedings, Beltany seeks €128.9 million from Mr Maguire and the companies Parolen Ltd, Parol Hotel Ltd, Parol Ltd, Park Street Hotel Ltd, Parol (Two) Ltd, Tripes Fashion Ltd and Bellaben Ltd, all of which are in receivership. Beltany alleges that Mr Maguire entered into multiple loan agreements with Anglo Irish Bank between 2007 and 2009, and that he guaranteed payment on written demand for all monies due. After acquiring the loans, Beltany sent letters of demand in June 2015, which Mr Maguire allegedly failed to satisfy.
Who, what, where, when and why
What: Report matter: Fund seeks summary judgement of over €130m against developer. Procedural stage: hearing_or_decision
When:
- June 2015 Other
- September 2007 Other
- April 2009 Other
- 2007 and 2009 Other
- 2017-02-27 Publication
Places mentioned
- Park Street
Topics
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