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High Court overturns order of Master of High Court and grants summary judgment in the amount of €2.3 million to plaintiff in respect of banking liabilities due and owing on foot of several loan facilities now in default and grants order substituting the name of the plaintiff owing to a prior transfer of the interest in said loans, finding that the defendant has no bona fide defence as it cannot be allowed to attempt to unilaterally impose terms and conditions on the repayment of the debt and claim a defence in default of same by the judgment debtor.
Appeal against order of Master of High Court refusing plaintiff's application for summary judgment - time to appeal extended by one day - necessary intention to appeal formed within designated time - €2.3 million sought by plaintiff in respect of banking liabilities arising out of seven loan accounts - eighteen properties sold in order to bring down balance owed - whether an agreement or settlement between parties disentitling plaintiff from bringing proceedings - plaintiff denied allegations of fraud, misrepresentation and illegality - whether plaintiff's proofs in order - significant correspondence between parties over debt - test to be applied - whether a fair or reasonable probability of the defendant having a real or bona fide defence - attempt by defendant to unilaterally impose terms upon plaintiff - no settlement arrangement - no aquiescence by plaintiff - no defence - application to substitute plaintiff on notice - loans continued in 'Loan Sale Deed' - legislative regime - judgement and substitution granted.
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