said that decision was currently under appeal. He said he could not understand why the court and counsel for the bank were showing such interest in the financial affairs of Mr Blanc when only the actual default in mortgage repayments should be the focus of the court.
Judge Linnane said the bank’s possession proceedings was issued in September 2016 and since then there had been 12 appearances before either the County Registrar or the Circuit Court. It was quite clear that when the loan was taken out the Blancs had a very prominent firm of solicitors, O’Rourke Reid, advising them as well as a mortgage broker and their accountants.
“This was a re-financing loan to repay a debt with another financial institution and one of the conditions of the mortgage was that it was to clear off that debt,” Judge Linnane said. “It is acknowledged that there has been no payment whatsoever since 4th November 2015. Nothing but nothing has been paid off this loan until the recent €1,000 a month payments,” the judge said.