Agri-business directors liable for breaches of financing agreement and personal undertakings to bank

Breach of contract - damages for breach of personal undertakings collateral to agreement for purchase of debts - summary summons proceedings admitted to commercial list - interlocutory marvel injunction granted ex parte but discharged prior to hearing - undisputed facts - defendants as brothers and directors of company in agri-business industry - invoicing procedures - management of related company of one director at cross-purposes with business - receiver appointed in 2013 - demand letters sent by plaintiff in amount of €2.9 million - whether defendants liable (without monetary limit) on foot of their undertakings for alleged breaches of agreement between the parties - no dispute as to quantum - the debt purchase agreement - terms and clauses - the undertakings - the floating charge - the fixed charge - evidence of meeting between parties - auditor's report - practice of collecting cheques and transferring monies due to business - credibility of witnesses' evidence on financial practices of defendants - the 'breach' letter - benefit of legal advices prior to signing - admissions made - breaches of agreement found - whether bank estopped from relying on letter as an admission of breach - common law doctrine of election - repudiatory breach - receiver's evidence of alleged transfer of monies away from trust account - particulars of payments - materiality of breaches - correspondence and telephone conversations between parties - defendants concurrently liable for breach of agreement and undertakings.