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High Court grants summary judgment in the sum of €3,483,773.68, plus interest, against borrowers on foot of loan agreement, where there was ample evidence that a later agreement that purportedly supplanted the original agreement had never come into effect.
Claim for summary judgment - debt of over 3 million euro - three accounts - whether original "letter of sanction" had been supplanted by subsequent letter - borrowers led to believe that bank was satisfied with other security - whether to remit case to plenary hearing - whether figures incorrect - obligation on defendants to provide security - whether second letter of sanction had come into effect - whether bank had waived requirement to provide security - whether sums owed were in dispute - borrowers in default - no explanation.
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