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Cullen fights bank bid to sell his home over debts of €8.2m

BUSINESSMAN Bill Cullen is opposing a bank's demand that he sell his and partner Jackie Lavin's home to satisfy an €8.2m judgment obtained against him two years ago.

The High Court will set a date later this week for the hearing of Danske Bank's application for an order for the sale of Osberstown House, Naas, Co Kildare.

Ms Justice Caroline Costello said the court would also hear a separate application next week from Mr Cullen's lawyers to cease representing him.

Mr Cullen told the court he would be seeking an adjournment of Danske's application for a few months so that he can obtain new representation.

Rossa Fanning BL, for Danske, said the matter could be put in for later this week when his side would seek a date for hearing as it would take at least a day to deal with.

Mr Cullen's wife, Rita Cullen, and his partner of 35 years, Ms Lavin, both oppose the application to force the sale of Osberstown House and are notice parties to Danske's application by order of the court.

Lawyers for both women agreed to an adjournment when a date for the hearing will be set.

valuable

In its claim, Danske says that after judgment was registered in November 2012 against Mr Cullen for €8.21m arising out of debts for unpaid loans, the judgment remained and remains unpaid.

Mr Cullen is opposing the order for sale on a number of grounds including that the bank has made inadequate efforts to ameliorate his debt through the proper marketing of two valuable properties over which a receiver has already been appointed.

Danske denies his claims and says he is trying to re-open the 2012 judgment proceedings which Mr Cullen had consented to.

hnews@herald.ie


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