The chickens are coming home to roost for many as cases start making their way out of the Commercial Court's docket. Clearly, there is not much to be said by way of defence in these cases: eur. 60 million worth of claims were disposed of by way of summary judgment. As the Independent reports:
VARIOUS banks sought judgment orders for more than €150m over unpaid loans -- mainly property related -- in just one day before the Commercial Court yesterday.
The largest of the claims was by Bank of Ireland for €63m against four Cork businessmen, while the second largest was by Irish Nationwide Building Society (INBS) for €35m against Limerick developer Gerard Clohessy.
More than a dozen claims were made for smaller sums ranging from €1m up to €9m. Some were granted while others were adjourned.
Mr Justice Peter Kelly made summary judgment orders totalling more than €60m in a series of cases in circumstances where no defence was offered to those claims.