Master of High Court notes ‘vehemence with which bank officials try to defend’
made the comments on Friday when dismissing a fund’s uncontested application for liberty to enter final judgment against a woman for about €944,550, including interest.In his written decision, the Master stressed “any” outcome in the Master’s court “is ‘check’ and not ‘checkmate’” and not final unless a plaintiff so chooses.judgments, “it is going to be more difficult for a vulture fund to get summary judgment, even in an uncontested case”.
“This is banking ‘culture’. It starts with bonuses and ends in disinformation,” he said. “The age of innocence is over. Bank’s affidavits have fallen from grace. They no longer enjoy any presumption of accuracy.”That did not mean that a judge who critically examines banks’ affidavits is somehow prejudiced against banks. The converse applied as failure to do so “suggests a prejudice against debtors.
The relevant loan conditions allowed the lender “charge interest on all unpaid instalments at the prevailing rate applicable to this loan, plus 0.5 per cent per month until payment”, he noted. The 6 per cent penalty rate does not apply to the unpaid principal of €380,000 only due and owing after termination and demand for full loan repayment, he said.Uncontested applications for liberty to enter final judgment are within his jurisdiction and, having conducted the “nuanced analysis” of the fund’s proofs required by the Supreme Court, he was dismissing the fund’s application.
It is “not correct”, just because an assignee can apply to be substituted as plaintiff, that their title or ownership of the debt has been accepted by the court. “Vulture fund cases need detailed examination.”
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Paschal Donohoe says the Central Bank may take action if diversity at banks doesn't improveA Central Bank report found that 80% of senior appointments in recent years were men.
Read more »
Judge rejects bank’s objections to man’s personal insolvency dealBank of Ireland would do better than if the man was made bankrupt or if the bank tried to enforce a possession order, court ruled
Read more »
Judge says property housing 25 people a ‘risk to human life and limb’Michael James Stamp told to move residents out of attic flat and four mobile homes at rear
Read more »