Wednesday October 21, 2020

Pub seized after default on 19 per cent loan

A loan company which charged a rate of almost 20 per cent interest was entitled to seize a Co Clare pub when the borrower fell behind in her payments, the High Court has ruled.

16th July, 2011

A loan company which charged a rate of almost 20 per cent interest was entitled to seize a Co Clare pub when the borrower fell behind in her payments, the High Court has ruled.

Secured Property Loans Ltd (SPL) claimed possession of a pub and shop at Tulla, Co Clare. Ronald Weisz, director of SPL, said the interest rate charged was not illegal, and publican Elizabeth Floyd had been given full information.

In 2007, Floyd applied...

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