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High Court refuses to grant a bank summary judgment on foot of personal guarantees given by husband and wife for borrowings of companies which they own and manage, on the basis they have presented an arguable defence of undue influence which can only be determined following oral evidence given at plenary hearing.
Plaintiff bank seeks summary judgment jointly and severally against first and second defendants on foot of two guarantees - guarantees given in respect of the borrowings of two companies owned and managed by defendants - bank seeks judgment for €571,952.63 - longstanding relationship between bank and defendants - defendants experienced business people - defendants had previously borrowed money from bank and provided personal guarantees - in July 2010, agreement reached to restructure existing loans on foot of which the guarantees at issue in these proceedings were given - defendants admit to giving said personal guarantees - defendants complain of oppressive atmosphere at meeting at which guarantees were given - defendants say guarantees are vitiated by undue influence - defendants signed waiver signed term waiving independent legal advice - plaintiffs vigorously deny any oppression or threatening behaviour - whether the defendants have failed to disclose any arguable defence - whether there is a fundamental dispute between the parties - Court draws attention to stark contrasts of fact which cannot be decided without oral evidence - accordingly ,Court finds that it cannot be said that defendants have no arguable defence - matter remitted to plenary hearing.
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