Appeals court upholds €22m judgment against brothers over data centre lands via IrishTimesBiz
The Court of Appeal has upheld a High Court decision granting summary judgement of €22 million against three brothers over their failure to repaid loans advanced to allow them buy lands earmarked for a data centre.
Planning permission was obtained for a data centre on the land, but the proposed centre was never built. The judge also agreed with Ulster Bank that there was an attempt to deceive it, involving a company which the bank described as “a front” for one of the brothers to buy the land for just €1.5 million.
Granja brought High Court proceedings in 2014 claiming the bank failed to specifically perform an agreement between them. The bank had separately sued CBRE alleging negligence in the preparation of the valuation of the Kilpedder lands. Brian McDonagh’s appeal was brought on similar grounds, and he sought to have put additional evidence before the COA that was not before the High Court.In its judgment, the Court of Appeal, comprised of Mr Justice Brian Murray, Mr Justice Maurice Collins and Ms Justice Teresa Pilkington, dismissed the appeals and declined to set aside the judgment made against the McDonaghs.
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