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High Court awards an investment company judgment against a defendant in the amount of €31,180,489, rejecting arguments made by the defendant that the deed of transfer of the loan was invalid and that the notice of assignment was required to contain the amount due and owing.
Application for judgment in the amount of €30,180,489 - five substantive judgments already delivered by the court - defendant directed to file defence to summary summons - defendant delivered lengthy defence and issued separate plenary proceedings - court ruled that most of plenary proceedings should be struck out - rule in Henderson v Henderson prevents parties from raising claims and defences in subsequent proceedings which could and should have been pursued in earlier proceedings but were not so pursued - matter before the court was whether the loan the subject matter of the proceedings had been effectively assigned to the plaintiff - financial institution assigned loans to plaintiff via deed of transfer - financial institution had a contractual right to assign loans - deed of transfer operated as valid transfer - plaintiff is entitled to the sum found due and owing - document headed notice of assignment gave no date for the assignment - no actual requirement that the date of the actual assignment be given to the debtor - no requirement that the amount due and owing be put on the notice of assignment - defendant was given valid notice of the assignment as required by s. 28(6) of the Supreme Court of Judicature (Ireland) Act 1877 - assignment of the chose in action was valid - not necessary to refer any question of any alleged violation of the rules governing the provision of State Aid to the Court of the Justice of the European Union.
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