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Reliance on terms of loan facility letter offers no defence to bank’s claim for judgment
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Court of Appeal dismisses appeal from High Court, and affirms order for summary judgment in favour of the plaintiff bank in the sum of €367,467.12, based upon the construction of the terms of a loan agreement contained in a facility letter, on the grounds that any reliance upon the terms of the letter of loan offer by the defendant as the basis for providing an arguable defence is simply misplaced, and the defendant has not demonstrated the possibility that he has a bona fide and credible defence to these proceedings.
Summary judgment – appeal of judgment made in favour of the plaintiff bank in the sum of €367,467.12 – construction of the terms of a loan agreement contained in a facility letter – date of guarantee – whether the defendant had established an arguable defence to the proceedings – defendant has not demonstrated the possibility that he has a bona fide and credible defence to these proceedings – any reliance upon the terms of the letter of loan offer as the basis for providing an arguable defence is simply misplaced – appeal dismissed.
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