A developer being pursued by Anglo Irish Bank for more than €84m has won the right to have a hearing to defend himself against the claim.
Limerick developer Michael Daly argued that he had easy access to senior figures in the bank, including Sean FitzPatrick and David Drumm, and was actively encouraged to undertake massive property developments.
Mr Daly, who represented himself in court, argued that he was encouraged to enter into personal guarantees in respect of some of the loans he was given on the understanding the guarantees were merely a formality and would not be called in.
Mr Justice Peter Charleton said he was not making any findings in relation to the credibility of Mr Daly's case or that of the bank.
He said in making a decision that the matter should go to a hearing he had merely to find that Mr Daly had put forward a defence that could be credible.
Mr Justice Charleton urged the bank to make all the documents relating to the loans available to Mr Daly and relevant meetings of the bank's credit committee so as to avoid a ‘nightmarish’ contentious application for discovery of documents.
Mr Daly, of Dalmin, North Circular Road, Limerick, told the judge he was in the process of applying for legal aid.
Mr Justice Charleton told him he may not get it.
