Bank entitled to legal charges over lands taken as security for loan

Property – appeal of High Court ruling that ACC Loan Management Limited was entitled to a first legal charge over the defendants’ interest in the lands and premises comprised in Folio 11109F for the Register of Freeholders, County Mayo on foot of an agreement – breach of contract and misrepresentation – res judicata – laches – “no transaction” defence – Biehler, Equity and the Law of Trust in Ireland. 6th Ed., (Dublin, 2016) – High Court judge was correct in law when he concluded that the defence of laches had to fail – consequences of summary summons proceedings – whether the High Court judge erred in law in failing to conclude that, because the summary summons proceedings had the same “nucleus” and the same parties as the specific performance proceedings, the doctrine of res judicata applied such that ACC had no entitlement to maintain the present proceedings – High Court judge was correct as a matter of law to conclude that the doctrine of res judicata had no application on the facts of the present case – fair hearing and bias – appeal dismissed.