Nobody went bankrupt just because he didn't keep/get a tracker rate on a PPR mortgage.
How do you know? The cost of my own is approx €450 per month how do you know that wasn't the difference between bankruptcy and not? How do you know they didn't decide that that was the easier option than the bank continually hounding them? Have a little respect before you make such grandiose statements.
Nobody went bankrupt just because he didn't keep/get a tracker rate on a PPR mortgage.
...no matter what happens, PTSB will have to pay Mr Kissane's legal teams' costs.
From reading the above article, Justice Costello somehow thought differently
In relation to the costs issue, the bank has admitted liability with regard to the overcharging and tracker issues. It is the borrower right to get a court determination of what that liability ( damages ) actually are, in monetary terms. I appears to me that the plaintiff in this case will have the high ground.
I would have thought the more proximate cause of the bankruptcy in that case was the fact that the borrower unfortunately lost his job.
"The outstanding mortgage at the time of the bankruptcy was some €326,000 with €75,000 arrears, Mr Wallace's counsel told the court.
However, counsel said the actual amount, had there not been an overcharge, was around €284,000 with €52,000 arrears."
So the overcharge certainly made a bad situation worse but that alone was hardly the cause of the bankruptcy.
Mr Wallace satisfied the court that he may not have needed to go bankrupt.
How will they not win their case if PTSB have already admitted liability ?
The fact is every citizen has a right to claim damages through our courts system if they have a cause of action.
The bank has admitted liability in relation to this particular cause of action!
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