A Dublin man has consented to €1.022 million judgment in the Commercial Court. Leo Mohan, Shelbourne Road, Ballsbridge, was sued by Friends First Finance Ltd.

Under a March 2008 agreement, Friends First claimed Mr Mohan, in return for €900,000, agreed to repay that sum in 84 monthly instalments at an annual interest rate of 8.04 per cent. He received a further €65,000 under an agreement of September 2008 and was to repay €82,380 in 60 monthly instalments.

It was claimed Mr Mohan defaulted leading Friends First to terminating the agreements last February and €1,022,931 was owing, the firm said.