Bank of Ireland's Failure to Disclose Loan Sale Criticized by Supreme Court Judge
Bank of Ireland did not inform the Supreme Court that it had agreed to sell a home loan before the court delivered a ruling on an appeal. The loan, central to a contentious case, was sold to Pepper Finance, a vulture fund, prior to the appeal hearing involving Brian and Attracta Murray from Killybegs, Co Donegal.
Details of the Case
The bank committed to selling the mortgage in December, ahead of the Supreme Court appeal concerning a €132,000 judgment against Mr. Murray related to this debt. Despite this, the court was not notified of the sale during the hearing.
Ms Justice Elizabeth Dunne stated the situation was "bizarre" and said the Supreme Court was "not happy, to put it mildly" about the lack of disclosure.
She added, “Everything we have seen from the bank to date has been unsatisfactory,” highlighting that the bank failed to present all necessary information to the court.
Legal Representation and Impact
Mr. Murray, represented by Gary McCarthy SC, Patrick F O’Reilly SC, and David O’Brien, is seeking to overturn the €132,355 judgment because the bank withheld critical facts about the loan sale.
The existence of the loan sale only came to light after three of five Supreme Court judges rejected Mr. Murray’s challenge to the original judgment in June.
Key Points
- Bank of Ireland sold a mortgage loan linked to the legal case without informing the Supreme Court.
- The sale to Pepper Finance occurred before the appeal hearing.
- The Supreme Court expressed strong dissatisfaction with the bank's non-disclosure.
- Mr. Murray seeks to have the judgment set aside due to this lack of transparency.
Summary: The Supreme Court condemned Bank of Ireland for failing to disclose the sale of a contested mortgage loan before an appeal ruling, calling the omission "bizarre" and undermining the court's trust.
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