Property developer Paddy Kelly has had a judgement made against him in relation to a loan of €6.1m owed to ACCBank.
The loan is in relation to several property developments. Mr Kelly was not in court today but the lawyer representing him said that he took the matter seriously and meant no discourtesy to the court.
The action relates to several loans advanced to Mr Kelly, including a €4.87m loan of March 2005 relating to construction of 62 apart-hotel units at the Clarion Hotel, Liffey Valley.
Other loans include €536,000 in October 2003 to buy two properties in Tulfarris Village, Co Wicklow, and two dual life memberships to Tulfarris Golf Club; a July 2004 €600,000 loan for equity release on the Tulfarris properties; and loans of €1m in 2003 and 2004 to invest in ACC's SolidWorld investment bonds.
ACC also wants repayment of some €432,000 under guarantees by Mr Kelly over the debts of Fablinbe Ltd, Lad Lane, Dublin.
