Final orders deferred pending further affidavit exhibiting certificate of incorporation on conversion of bank to a designated activity company

High Court, in proceedings seeking a well-charging order against the defendant on foot of an unpaid loan, and where the defendant maintains that the plaintiff has alienated its interest in the loan and the associated security to Promontoria (Oyster) DAC (“Promontoria”), such that it cannot enforce the security by way of the orders sought, determines that: (1) Any inference raised or uncertainty created as to the nature of the transfer to Promontoria is comprehensively corrected in the sworn averments of a senior manager of Ulster Bank DAC and a director of Promontoria confirming that the legal interest remains with Ulster Bank DAC; (2) the failure to exhibit the relevant certificate of incorporation issued in respect of the conversion of Ulster Bank to a designated activity company was a genuine oversight, and the matter can thus be addressed in a further affidavit to be sworn by an appropriate deponent; and (3) once it has exhibited the certificate of incorporation onconversion of Ulster Bank to a designated activity company, the court will grant a declaration that €19,709.83 plus €300,274.06, totalling €319,983.89 is well-charged in favour of Ulster Bank DAC in respect of the defendant’s interests in the property in issue.