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Court of Appeal dismisses appeal from High Court, and affirms order granting summary judgment against a guarantor in the sum of €6.3 million, on the grounds that wording of a limited recourse clause in the mortgage agreement did not preclude the lender from obtaining judgment against the guarantor.
Donnelly J (nem diss): Claim for €6.3 million - summary judgment - guarantee - mortgage debt - claim that mortgage contained a 'non-recourse- clause superseding the guarantee - development lands - sale of lands to developer for €29 million - clause limiting bank's recourse - construction of guarantee and mortgage - interpretation of 'text in context'.
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