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The High Court struck out proceedings brought by borrowers against a bank in special liquidation and its professional advisors, finding that the plaintiffs failed to comply with procedural requirements, did not prosecute their case for almost nine years, and offered no valid explanation for the delay. The plaintiffs also sought to join State parties and sought wide-ranging declaratory reliefs regarding alleged loan mismanagement and invalid loan classification, but were refused on grounds including inordinate and inexcusable delay, futility of the litigation, and inability to establish a stateable case. The court noted the proceedings had been inactive for extensive periods and only revived following threatened enforcement by a third party, with no draft statement of claim ever served, and dismissed all outstanding applications, including requests to join further defendants.
strike out application – delay in prosecution – bank in special liquidation – professional advisors – loan mismanagement allegations – failure to serve statement of claim – application to join State parties – futility of proceedings – section 6 of the Irish Bank Resolution Corporation Act 2013 – inordinate and inexcusable delay – Rules of the Superior Courts (RSC) – procedural history – special liquidator – declaratory relief – enforcement of loan security
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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