A BANK has secured €1.1 million in summary judgment orders at the Commercial Court against a businessman arising mainly from a loan issued to invest in property in Montenegro.
There was no appearance by or on behalf of Bernard Llewellyn, with addresses at Millennium Tower, Charlotte Quay, Dublin and Lough Allen Lodges, Ramada Hotel Resort, Drumshanbo, Co Leitrim, when the judgment orders were sought by Kelly Smith on behalf of Bank of Scotland.
Mr Justice Peter Kelly said he was satisfied service of the proceedings had been effected on Mr Llewellyn who had not entered an appearance. In the circumstances, the bank was entitled to judgment in the sums sought.
He entered judgment for €1,036,994 and €64,246 arising from loan agreements of May 2007 and July 2007 under which some €1 million was made available to assist in the development of properties in Montenegro and €400,000 towards an investment in a Friends First product.
The bank claimed the Friends First investment fund now appeared to be “worthless”.
The bank claimed the loans were secured by legal assignments over certain specified shares, including in Newcourt Group, now in receivership, and certain funds.
It claimed events of default had arisen in relation to both loan agreements, including failure by the defendant to repay principal and/or interest when due.
The bank said it demanded repayment of €1.03 million and €64,246 under the respective facilities last November. Mr Llewellyn had failed to make repayment or to advance satisfactory repayment proposals, the bank said.
The bank also said, from a High Court search carried out by it, that summary proceedings had been issued against a Bernard Llewellyn by Bank of Ireland in 2011 and by Irish Nationwide Building Society in 2009 and 2010. It was possible the defendant in this case was the same Bernard Llewellyn in the other proceedings, it said.
