A court has ordered a Galway businessman to pay Bank of Scotland $5 a week – on a $100,000 debt.
It will take Gareth Duffy 400 years to repay the loan after the court heard an appeal from the bank.
Duffy told Judge Geoffrey Browne that he owes a total of over $5million to various banks.
Bank of Scotland had asked the judge to award them a $1200 monthly payment from Duffy.
Instead Judge Browne ordered the cash-strapped businessman to pay just $5-a-week and remarked: “The bank will be around for a long time.”
The Connacht Tribune reports that Ballyglunin man Duffy told Tuam Civil Court that the banks pressurized him to borrow almost $6million and he still owes them $4.2 million.
Duffy told the court: “Up to 2009 I didn’t owe a bob to anyone. Then the banks pursued me and pushed me into borrowing about €4.6 million. I still owe €3.5 million.”
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Switch to the desktop site to post a comment.seanomelb | Aug 02, 2012, 07:37 PM EDT
I see the rabbit brain is back spouting her gems of ignorance.
Buffalobrave | Aug 02, 2012, 01:41 PM EDT
Fcuk the bank!
bogsidebunny | Aug 02, 2012, 07:51 AM EDT
Yea, When in trouble apply an old "Irish Bull SH*T" excuse: The devil made me do it...Personal responsibility, common sense and self-discipline in Ireland? Nat a chance in the land dominated by Cute Hoors. People will retain their infantile mentalities as long as government and its justice system treats them like children.
seanomelb | Aug 01, 2012, 06:46 PM EDT
Bank greed!! A win for the people should be more of it
oaklongan | Aug 01, 2012, 06:43 PM EDT
Send the Honorable Inextimable Judge Geoffry Browne to America, the U.S. ONLY on behalf of the Unjustly treated, HONEST, STRUGGLING Citizens of our Republic, to adress their JUST GRIEVACES against PREDATORY LENDERS, whose sufferers who would welcome him to our shores. What an Extraordinary Truly HUMAN Being...Thanking HermitTalker for the appalling history reminder and Young Pike.
BrianO | Aug 01, 2012, 06:28 PM EDT
The bank pressured me into writing this comment, I can't stop myself, please stop pressuring me, must write more comments.
seamusdenais | Aug 01, 2012, 04:46 PM EDT
Well done Judge Geoffrey Browne for telling the Bank of Scotland to go and take a massive jump in a lake. How many times have these despicable banks swindled and gambled with the fortunes of nations only to bankrupt them and as a consequence ordinary Joe Bloggs picks up the tab.
cillowen | Aug 01, 2012, 03:13 PM EDT
got a good deal
hermitTalker | Aug 01, 2012, 02:10 PM EDT
Sounds as if the Galway Judge read his history book before he read his Law Textbook. The Irish were invited to go to hrll or to Connaught (western province of rocks, includes Galway) by CROMWELL who gave the English Crown Presbyterianism and Elizabeth 1 Tudor Queen sent boatloads of SCOTS Protestants to take over the land in Ireland. The BOS is losing some of that ill-gotten gain we presume. NEXT the BOE and all the rest of the colonies which gave them lots of cash, slaves, coffee, gold and timber. BARCLAYS anyone? THEN Dr. Merkel's Troika?? Jes'kiddin' too old to start another revolution!!
mayoman | Aug 01, 2012, 01:30 PM EDT
Will someone please answer this question: When Duffy dies won't the bank me able to sue to take possession of his estate? If so, won't this necessarily mean that will be no legacy (assuming that there is one) for Duffy's heirs?
TisEyerish | Aug 01, 2012, 01:02 PM EDT
Sorry, but I can't agree with this judgment...the man has a brain (supposedly) and should have known better than to borrow all that money. This is ridiculous.
JBRAFTREE | Aug 01, 2012, 12:55 PM EDT
Whatta' guy, Judge Browne. Duffy will be an old guy. Almost as old as Ciara.
jrobichabc | Aug 01, 2012, 12:44 PM EDT
What -- it's the bank's fault for "making" him borrow money?!?!?
seanfer7 | Aug 01, 2012, 11:09 AM EDT
A real table turner
jamieLM | Aug 01, 2012, 11:07 AM EDT
What a deal!
jamieLM | Aug 01, 2012, 10:03 AM EDT
What a laugh. This could only happen in Ireland. No wonder the world laughs at them. Shows how the republics school teachings on maths have worked for the judge. Hilarious comedy.
JohnKinMD | Aug 01, 2012, 10:00 AM EDT
From 2009 to today, he spent all that money on WHAT. I don't feel sorry for him, I fell sorry for the bank.
YoungPike | Aug 01, 2012, 09:13 AM EDT
It's about time the courts sided with the victims of the banks. My bank pressurised me for years to take out more and more loans to the extent that it constituted harrassment. I resisted. Nevertheless, their tactics struck me as similar to the drug pusher who hangs around outside schools trying to get kids hooked.
IrelandNorth | Aug 01, 2012, 08:19 AM EDT
Presuming that the creditor is at least 20 years of age, and tha average life expectancy in advanced industrialised countries is 70 years, this leaves him with 50 years to make a dent in the principle sum. €5 p/w = €260 p/a x 50 = €13,000 over his expected lifespan, leaving €87,000 to be paid by his heirs and successors, descendants or relatives. We've finally arrived at the concept of karmic accounting.