The Commercial Court has ordered that businessman Seán Quinn must repay €417m to the Irish Bank Resolution Corporation, formerly Anglo Irish Bank.
The court granted summary judgment against Mr Quinn to IBRC this morning.
The bank's claim for a further €1.6bn has been adjourned until next Monday to give the official receiver in charge of Mr Quinn's bankruptcy in Northern Ireland a further chance to tell the court if he wants to challenge that claim.
The amount Mr Quinn has been ordered to repay is the largest summary judgment amount ever entered in the courts in Ireland against an individual.
Mr Justice Peter Kelly granted the order for almost €417m as it relates to sums of money that Mr Quinn has admitted that he owes and are therefore undisputed.
He said it would require extraordinary circumstances if he were to refuse judgment for sums of money the defendant admits that he owes.
The judge said there was a powerful case for him to grant judgment for the rest of the money.
He said there was no suggestion of a defence to the claim.
However, out of courtesy to the official receiver, Mr Justice Kelly said he would adjourn it until Monday afternoon.
The bank's challenge to Mr Quinn's bankruptcy will come before the High Court of Justice in Northern Ireland tomorrow but is not likely to be heard fully at that stage.
IBRC said it welcomed the court's decision and said it "represents another significant and important step in this debt recovery process by IBRC on behalf of the State".
