Four property developers have been ordered to attend the High Court to account for assets which a bank says could be used to satisfy a €3.5 million judgment against them.
In 2017 AIB obtained judgment, on consent, against Peter Donnelly of Newtown, Ardclough Road, Celbridge, Co Kildare, Paul Kelly of Doon, Boyle, Co Roscommon, Brian O'Sullivan of Kilgolan Upper, Kilcormac, Co Offaly, and Kevin Gallagher of Rocky Valley Drive, Kilmacanough, Co Wicklow.
It arose out of a €3.4 million loan in 2006 towards the purchase of a 7.5 acre plot of land at Tullamore, Birr, Co Offaly. Part of the site was later sold to supermarket chain Lidl and resulted in the payment of €435,000 towards the debt.
AIB says it got €152,000 from the sale of the remainder of the site, which left €3.7 million, inclusive of interest, still owing.
It says it entered into extensive correspondence with the defendants and their financial advisor in efforts to satisfy the outstanding debt.
However, AIB says it is not satisfied with the information all four have supplied.
Alleged transfers
In relation to Mr Donnelly, it seeks information about alleged shareholding transfers in a company called Bexdale Holdings to his wife Mary Donnelly. It also wants to know about monies he allegedly received from companies called Vengalt Ltd and Zalika Ltd.
From Mr Kelly, the bank seeks information about the sale of six properties in Roscommon and Sligo to a company called Cadizmont Ltd which is 95 per cent owned by his wife Mary Kelly.
From Mr O'Sullivan, it seeks information in relation to the transfer by him to a trust of properties in Dun na Coiribe in Galway and in Lettermullan, also in Galway.
From Mr Gallagher, it seeks information about any shareholding he had in companies called Aquafawn Ltd and Soldinio Ltd and the alleged transfer of his shareholding to his wife Sandra Gallagher.
On Monday, Paul George Gunning BL, for AIB, applied to Mr Justice Denis McDonald for an order directing the cross-examination of the defendants in relation to their assets. The application was on a one side only represented (ex parte) basis.
The judge granted the order and gave the defendants liberty to apply to discharge the order. He also granted certain discovery orders and put the case back for mention in July when a date for cross-examination will be set.
