DCSIMG

Councillor in court over €61k Newbridge Credit Union loan

Cllr Martin (Murty) Aspell.

Cllr Martin (Murty) Aspell.

THIRTY six cases involving members of the former Newbridge Credit Union Ltd were the subject of civil proceedings at Naas District Court on Monday, 17 
February.

In 25 of the cases, instalment orders were sought against the members, and in another 11 cases, members were facing charges to comply with court orders.

At the outset of the court hearing, solicitor Jason Teahan applied to the Court to have the cases transferred to the name of Permanent TSB public limited company, with which the business of the former credit union has now been charged.

Mr. Teahan said the application was being made under Section 49 (4)(j) of the Central Bank and Credit Institutions (Resolution) Act 2011.

This enabled the accounts to be transferred to 
Permanent TSB.

Judge Desmond Zaidan allowed the transfer.

One case was adjourned to 19 May, because the solicitor representing the respondent said he had not been on notice of the case.

An instalment order for €45 per week was made against a Newbridge councillor, Martin Aspell, formerly of 5 Wellesley Manor, Newbridge, who owed around €61,000. The Court heard that the sum was a business loan and the company had gone into liquidation.

It also heard that one guarantor had died and a second was very ill.

Judge Zaidan was told that under the old rules, the maximum Mr. Aspell should have been loaned no more than €15,000 and it was argued that “no due diligence” was done by the former 
credit union.

Permanent TSB was seeking €75 in repayments per week, after first looking for €50.

The judge remarked that even if money was thrown at Mr Aspell, “he’s not a child”.

In another case an order was made against Denis Walsh, 1414 Carna Cottages, Suncroft, who owed €51,538, to pay €40 per week.

An order was made against Anna Hunt, 151 Allenview Heights, Newbridge, to pay €50 per week on a debt of €28,000.

In 20 cases where installment orders were made against members of the former credit union, the members were, between them, ordered to pay a total of €3,072 per month, averaging out at 
around €153.

A number of cases were struck out.

 

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