Larkins secure injunction on loan sale

Companies controlled by brothers Michael and Richard Larkin have secured a temporary High Court injunction restraining Ulster Bank Ireland from transferring their loans to any third party.

The brothers, whose family have been in the property business for many years, fear the sale of the €87 million loans to an unknown third party may adversely affect an action their companies have brought against the bank. This is over losses allegedly suffered due to alleged miselling and misrepresentations by the bank.

The loans are performing and the companies are happy to repay their indebtedness, the court was told.