National Irish Bank is seeking summary judgment orders for €8.5 million against beleaguered developer Paddy Kelly and two businessmen over personal guarantees given for an overdraft facility for Mr Kelly’s company, RQB Ltd.
The two businessmen are Niall McFadden and Paul Pardy.
NIB also wants an additional €1 million summary judgment order against Mr Kelly over a term loan given towards investment by Mr Kelly in Club Company Acquisition Holdings Ltd.
Mr Justice Peter Kelly gave leave today to Declan McGrath, for NIB, to apply on August 12th next to transfer the case to the Commercial Court and to seek summary judgment in the amounts claimed.
Counsel said the application related to bank facilities secured under guarantees. In an apparent reference to Mr Kelly, counsel said one of the defendants was “well known to the court” and the bank was “concerned about his position”.
NIB is the latest of several banks to move against Mr Kelly after he told the Commercial Court earlier this year he was considering bankruptcy. To date, judgment orders for some €84 million have been secured against him.
