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In this recession like no other, enforcement over complete and incomplete residential and other property developments is a common scenario faced by both bank and Insolvency Practitioner alike
With the recession showing no signs of abating, and property prices remaining static, recent trends in the Northern Ireland Courts are now beginning to clearly show an influx of claims by financial institutions who are seeking to recoup lost value arising out of disastrous property transactions
The first legal challenge against NAMA was heard by the Irish High Court from 5 October 2010 to 14 October 2010 and judgment was delivered earlier this month on 1 November 2010
A personal guarantee is usually given to a lender by a director who is also a shareholder of a company as additional security for a company's borrowings
