Banks spend almost €7 million on legal fees relating to house repossession cases in last three years

Banks spend almost €7 million on legal fees relating to house repossession cases in last three years

ALMOST €7 million has been spent by Irish financial institutions covered by the State guarantee in the past three years on legal fees related to house repossession cases.

Minister for Finance Michael Noonan revealed the figures in the Dáil last week following a query from Sinn Féin finance spokesperson Deputy Pearse Doherty.

It revealed that €6,948,777 has been spent by the five state-backed banks in 2009, 2010 and 2011.

IBRC, formerly Anglo Irish Bank, spent the most on legal fees relating to house repossession cases with a total of €4,183,050. That figure was made up of €1,378,440 in 2009, €1,643,542 in 2010 and €1,161,068 this year to date.

The next highest was AIB/EBS, who have spent a combined total of €2,093,727 in the last three years on legal fees relating to house repossession cases. That figure was made up of €822,985 in 2009, €677,567 in 2010 and €593,175 this year to date.

Bank of Ireland, meanwhile, has spent €535,000 in the past three years – €67,000 in 2009, €262,000 in 2010 and €206,000 in 2011 to date.

Irish Life and Permanent spent the least of any of the institutions, with just €137,000 in the last three years – €21,000 in 2009, €24,000 in 2010 and €90,000 this year to date.

In total the five institutions spent €2,289,425 in 2009, €2,607,109 in 2010 and €2,050,243 this year to date.

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