A SLIGO woman is being pursued for €47 million in summary judgment orders by ACCBank, mainly as a result of personal guarantees provided by her over loans to a building company, now in receivership.

Summary judgment for some €37.3 million was entered by Mr Justice Peter Kelly at the Commercial Court yesterday against that company, Avena Developments, Youngs Road, Ballisodare.

The €37 million claim related to loan facilities provided to Avena in 2003, 2005 and 2007, mainly for developments in Ballisodare.

Rossa Fanning, for ACC, said the bank was also seeking summary judgment for €47 million against Mary Gilmartin, Avena House, Ballisodare, Co Sligo, comprising €37.3 million on foot of her personal guarantee over the liabilities of Avena Developments and an additional € 9.58 million in loans advanced to her over a six-year period to buy sites and residential investment properties.

ACC had demanded repayment from July 2009 and demanded immediate payment of both sums in March last but no repayment was made.

Counsel for Ms Gilmartin said he needed time to take instructions from his client as to any defence that might be raised. Mr Justice Kelly listed the matter for Thursday.

In an affidavit, Lorraine Fairley, a manager in ACC’s special credit assets department, said the bank had been involved since May 2008 in ongoing negotiations with Ms Gilmartin, both in her personal capacity and her capacity as secretary and director of Avena.

The bank had afforded both Avena and Ms Gilmartin every opportunity to make the necessary repayments related to the loans.

As it was clear those repayments would not be made, she said the bank appointed William G. O’Riordan as receiver over properties of Ms Gilmartin in October 2009.