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The High Court granted summary judgment in the sum of €231,580.11 arising from a loan agreement. The defendant asserted an oral agreement that the remaining loan balance would not be pursued following the cooperative sale of secured lands. However, the court found the defendant's assertions lacked credibility and were contradicted by written evidence showing an acknowledged liability for the residual balance post-sale. The defendant had failed to demonstrate a fair or reasonable probability of a bona fide defence.
Summary judgment, loan repayment, secured loan, residual balance, oral agreement, estoppel, ACC Bank, loan transfer, liability acknowledgment, bona fide defense, High Court, plenary hearing, affidavit evidence, enforceability of oral contracts, creditor-debtor relationship, sale of secured assets, financial liability, legal principles of summary judgment.
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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