High Court Grants €1.59 Million Judgment Against Developer’s Daughter-in-Law

The High Court has granted summary judgment for €1.59 million against a daughter-in-law of well known developer Paddy Kelly over loans primarily related to the purchase of units in a commercial building in Sandyford, Dublin, The Irish Times reported. AIB sought judgment against Joanna Sloan, wife of Simon Kelly, son of Laois-born Paddy Kelly arising from loans advanced in 2007 for the purchase of units in Sandyford Apex Centre and for the release of equity in two of the units there. Mr Justice Séamus Noonan ruled Ms Sloan had not demonstrated a fair or reasonable probability of a bona-fide defence to the bank’s claim. He said Paddy Kelly and others were loaned €8 million by AIB in 2006 to buy 10 units in the Apex Centre, owned by Daleridge Ltd, of which Mr Kelly and Simon Kelly were shareholders, along with others. Daleridge was liquidated and the shareholders subsequently acquired some of the individual units in the Apex. Read more