Bank granted partial judgment where collateral agreement alleged by defendant

Application for summary judgment in sum of €7,730,102.18 allegedly due by the defendant to plaintiff on foot of a series of credit agreements and facility letters executed between 1st September, 2006 and 28th March, 2007 - no dispute but that the defendant executed all of the relevant facility letters and drew down and has had the benefit of the funds described in them - whether defendant has any defence to proceedings - argued by defendant that, notwithstanding clear terms of written agreements executed by him, there was a collateral contractual arrangement to the effect the term of the agreement would be “for the duration of the funds” - If correct, this means that facilities were not demand facilities, nor were they repayable by March 2008 at the latest - counterclaim asserting negligence, misrepresentation, negligent misstatement, breach of duty and breach of contract against the plaintiff - defendant’s alleged defence only applies to the first and second agreements and facilities A and B of the third agreement and part of the fourth agreement - judgment entered on parts of claim to which no defence has been entered - balance of claim adjourned to plenary hearing so as to enable the defendant to prosecute the line of defence pertaining to the existence of a collateral agreement - judgment for €5,205,175.90.