A woman is taking legal proceedings in the Commercial Court to force AIB to release its security over a €15m portfolio of property she claims was transferred to her as part of a separation agreement.
Patricia Cullen from Butterfield Avenue in Rathfarnham claims the 26 properties were transferred to her as part of a separation settlement from her husband, businessman Bryan Cullen.
Ms Cullen, says as part of her judicial separation from her husband, the High Court ordered that 34 properties were to be transferred to her, free from any charge or liability.
AIB held security in or in connection with 26 of the properties.
She says the bank agreed to restructure her husband's borrowings for her benefit and agreed to release its security over the properties. But, she says, it has not done so.
The properties involved include properties in Rathfarnham, Donnybrook, Milltown, Sandymount and Stillorgan, all on Dublin's southside.
Ms Cullen claims the value of the properties in today's market is just over €15m.