Belfast Telegraph

Taggart brothers' legal row with Ulster Bank on hold


Former housebuilding tycoons Michael and John Taggart's multi-million pound legal battle with the Ulster Bank has been put on hold due to one of the brother's ill-health.

A three-week hearing of the case examining conflicting claims of negligence and personally guaranteed borrowings was due to get under way at the High Court in Belfast yesterday.

But the judge was told John Taggart has been admitted to hospital with ongoing, undisclosed medical issues.

It is the second time that the action has been forced to adjourn just as it was about to be heard.

In September last year the case was put back after the Taggarts dismissed their previous legal team.

The brothers, once described as the richest businessmen in Ireland, are suing Ulster Bank for alleged negligence and improper conduct they claim contributed to the fall of their empire.

In a counter-claim, Ulster Bank has lodged writs for £5m (€4.1m) and £3.5m (€4.3m) it claims the brothers owe in personal guarantees.

Belfast Telegraph


From Belfast Telegraph