O'Neill v Ulster Bank Ltd (Rev 1)

[1] The respondent applicant, Ms O'Neill, entered into a business partnership with her husband Gerard O'Neill, who is a builder, and their two sons. This business partnership is known as Glenone Properties ("Glenone"). The appellant, Ulster Bank Ltd, ("the Bank") advanced Glenone a series of loans most of which were for the purpose of buying and developing land. The total amount still owing under these loans, including interest, is in excess of �1.3 million.

Furthermore, Ms O'Neill avers that she does not recall consenting to a second charge on the family home; she does not recall signing any documentation relating to it nor meeting with representatives of the Bank to discuss the creation of a second charge nor did she recall obtaining any independent advice, legal or otherwise, regarding its creation. She says that she did not know that the family home had been used to secure business debts until "sometime after the recession really started to bite which would have been in 2008 or 2009."

[7] Ms Caryn Murphy, an employee of the Bank with day to day management of Glenone's accounts, has sworn an affidavit on behalf of the Bank. Glenone opened partnership accounts with the appellant on 13 September 2004, copies of which she exhibits. From time to time thereafter Glenone applied to the Bank for further loan facilities on the account. A facility letter dated 15 February 2011 had subsequently been signed by all partners of Glenone which set out the various facilities at that date as:

The facility letter goes on to set out the terms of security for the above loans:

Ms Murphy further points out that the properties at Halfgayne Road, Innisrush, Mullaghadun Lane and the land at Eden Road were all purchased in the joint names of the four partners in Glenone.