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An Ennis man against whom AIB obtained a €3.48 million judgment last March had previously transferred €820,000 and a property in the US to his wife with the intention of defrauding creditors, the bank has claimed at the Commercial Court. Property developer Garech McGuinness, of Whispering Pines, and his business partner, Patrick Taylor, Moyreisk, Quin, had judgment entered against them after a judge ruled they had failed to establish an arguable defence to AIB’s claim arising from default on loans. In proceedings entered into the Commercial Court list on Monday, AIB claims that, between July 2013 and July 2014, Mr McGuinness transferred four sums totalling €820,926 to his wife, Justine McGuinness. It is also alleged he transferred to her around July 2014, for “a nominal consideration”, a residential property in Massachusetts, which the bank believes was worth not less than €250,000. In court documents, the bank claims these transfers were effected “with the dominant intention of defrauding creditors”, including the bank …
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