Bank granted €1.6m judgment against wife of broadcaster Yates
A bank is entitled to judgment of €1.6m against the wife of Ivan Yates, former government minister and Newstalk broadcaster, the High Court ruled.
Deirdre Yates had asked the court not to order summary judgment and allow the case to go to a full hearing.
She claimed she did not realise a guarantee she signed in relation to loans for the family bookie company would give AIB the right to pursue her for her family home at Blackstoops, Enniscorthy, Co Wexford.
Mr Justice Seamus Noonan ruled she had not raised an arguable defence to AIB's case and granted judgment for €1,648,147.
The case arose out of a guarantee she gave on April 13, 2010, towards €6.7m in loans for the expansion of the Celtic Bookmakers chain, which was run by her husband. In January 2011, the bank appointed a receiver over Celtic which went into liquidation.
Bankruptcy proceedings were launched in May 2012 by AIB against both Mr Yates and his wife seeking €3.6m.
The case against Mr Yates was dismissed in August 2012 and the summons against Ms Yates were not proceeded with.
Mr Yates was declared bankrupt in the UK in August 2012, having lived in Wales for 16 months to qualify under their more relaxed bankruptcy laws.
In June 2014, AIB demanded repayment of €1.6m from Ms Yates, a primary school teacher, in relation to the guarantee she provided on the loans.
Mr Justice Noonan said she had, in opposing the bank's application for judgment, claimed her clear understanding was that she signed documents relating to the guarantee "for administrative purposes only".
She also said she did not receive any legal advice before signing, nor did the bank suggest she do so despite the fact it (bank) knew she had no realisable assets and no substantive financial experience.
Mr Justice Noonan said the documentation clearly stated she was "advised to obtain independent legal advice before signing the guarantee".