High Court: (a) finds that the assignee of a loan cannot succeed at common law in its claim for judgment against a borrower, on the grounds that the statutory requirement that the original creditor provide express notice of the transfer was not complied with; but (b) nevertheless grants judgment in favour of the assignee as the debt is actionable in equity, and no argument has been raised that any equitable principle is engaged which would prevent the claim succeeding.
Plaintiff seeks summary judgment in the sum of €244,591.69 - loan agreement dates from 9 December 2003 - original proprietor of loan was AIB Bank plc however plaintiff is AIB Mortgage Bank, who purport to have acquired the loan and security - defendant argues that proceedings are improperly constituted and must fail - defendant says that plaintiff has failed to provide her with express written notice of the assignment as is required by s. 28(6) of the Supreme Court of Judicature (Ireland) Act 1877 - whether there was a valid assignment to the plaintiff - whether prior notice of the kind set out in s.28(6) is unnecessary where the loan agreement includes an express term pursuant to which the borrower agrees that the loan can be assigned without notice - court finds that purpose of statutory provision is to ensure that debtor knows to whom they owe money - notice must come from assignor - notice must be express, not implied - court finds that parties cannot "contract out" of notice requirement: in the absence of notice the debtor remains indebted to the original lender at common law - court finds however that the plaintiff can succeed in equity - court finds that there is no requirement for notice in equity - absence of original lender as a party in proceedings is not a bar to the plaintiff succeeding - no equitable maxim which would prevent the plaintiff from succeeding - court grants judgment.