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Court of Appeal dismisses appeal of High Court judgment in favour of bank in the sum of €290,225.17 on foot of a guarantee, finding that: a) the bank was not negligent in monitoring the actions of a solicitor; b) the actions and inactions of the solicitor did not absolve the appellant from his obligations on foot of the guarantee; and c) the trial judge gave due consideration to the matters raised in the counterclaim and correctly came to the conclusion that the counterclaim was not supported by the evidence.
Banking law – appeal of High Court judgment in favour of Bank in the sum of €290,225.17 – guarantees – whether the Bank was negligent in monitoring the actions of a solicitor – whether the counterclaim should have been permitted to go ahead – duty of care and negligence of the Bank – actions and inactions of the solicitor did not absolve the appellant from his obligations on foot of the guarantee – failure of solicitor to perfect the title and register the Bank's security – trial judge had ample evidence to come to the conclusion that no causative link could be shown to exist between any alleged failure of the Bank and any loss of business opportunity or sale value – appeal dismissed.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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