IVAN YATES WIFE FIGHTS 1.6 MILLION EURO SUMMARY JUDGEMENT
The wife of former Wexford Government Minister Ivan Yates is seeking not to allow AIB proceed with a summary judgement for 1.6 million euro against her.
The case came before the High Court yesterday.
The debt arises out of a guarantee Deirdre Yates gave on loans from AIB to her husband Ivan for his Celtic Bookmakers business, which went into liquidation in 2011.
Ivan Yates was subsequenlty declared bankrupt in the UK having lived there for sixteen months.
AIB claims that as Deirdre Yates was a majority shareholder, director and company secretary of Celtic Bookmakers it was entitled to recover the 1.6 million euro. arising out of the single guarantee she signed on her husband’s debt.
However she claims when she signed the guarantee she did not receive and was not advised to receive legal advice about the implications of doing so.
AIB wants the court to grant summary judgement because they claim Mrs Yates has no defence in the matter, while she wants the case to go to a full hearing so the court can assess all facts surrounding the case.
Mr Justice Seamus Noonan said he will rule on the matter on Friday.
