A judge has granted a number of adjournments and stays with regard to the repossession of a number of properties at the Chancery Summonses Court.
Ms Justice Elizabeth Dunne placed a stay on a repossession and granted adjournments in two cases. The court heard yesterday that a Co Mayo man, who was represented by his wife, owed Bank of Ireland €642,000 from a commercial loan. A licensed premises in Ballyhaunis, Co Mayo, owned by the man was used as security for the loan. Mr Justice Brian McGovern last week granted an application for repossession and legal costs against him.
Counsel for the man said a stay on the order could be of benefit to both parties and that a higher price could be achieved for the premises if they worked together.
Ms Justice Dunne granted a stay on the order for repossession for three months.
In another case, a man who received a loan of €216,000 from a mortgage company and fell into arrears on his repayments almost immediately was ordered to pay €350 per week.
Counsel for the company said their client had not received any repayment on the loan since November 5th, 2006. The court heard the sum had increased to €234,453 due to arrears.
Counsel for the man said her client recently applied for a new job with a semi-State company, which would provide him with a higher salary.
Ms Justice Dunne ordered that the man pay the mortgage company the agreed weekly sum and she adjourned the case until February 25th next.
A taxi driver who fell behind on mortgage repayments when he was injured in a car crash had his case adjourned until January 14th next. Counsel for the mortgage provider said the man had built up arrears of €34,174 on his loan and that the balance was now more than €220,000.
