Galway developer’s High Court debt appeal is rejected

Galway developer Brian Cunningham has failed to overturn a judge’s decision to impose “punitive” interest on a judgment debt of €1.9 million.

The former multimillionaire owner of the collapsed Cunningham group had said the 8 per cent interest rate applied at the discretion of the High Court judge in 2010 was “utterly unrealistic” relative to the marketplace, and amounted to “a windfall” profit for Ulster Bank.

The builder was appealing a ruling in ...