Galway Bay fm newsroom - A Galway couple have been unsuccessful in an appeal they took to the Supreme Court over the possession of their home at Taylor's Hill.
Frank and Lorna Burke took the case against possession orders in 2010 for failing to pay 1.2 million euro to Anglo Irish Bank for loans made to them since 2003.
The loans, which were later acquired by Launceston Property Finance, relate to the home at Averard, Taylors Hill and 13 acres of land in Clarinbridge.
When granting the possession orders in 2010, the High Court took into account Lorna Burke's medical condition at the time and the fact that dependent children were living in the Taylors Hill home.
According to today's Irish Times, Launceston Property Finance is an unregulated entity in Ireland but is entitled to pursue the possession orders via an agent trading as Pepper Asset Servicing.
In the three-judge Supreme Court, Justice William McKechnie said the court was 'not unsympathetic' to the plight of the Burkes, but that their appeal had to be dismissed.
He rejected claims that 'excessive' charges and high interest rates enabled by clauses in the relevant Anglo facility letters, mortgage deed and terms and conditions amounted to a 'penalty'.
The issue of costs will be decided at a later date.
