Man who owes millions must pay back price of a pint a week

A BALLYGLUNIN man who said he never owed a bob to anyone before the banks pressurised him into borrowing millions, was ordered to pay Bank of Scotland the price of a pint a week until his €83,000 debt is paid off. It will take just short of 400 years to pay off this debt but Judge Browne said the bank would be around for a long time. Gareth Duffy, Ballina, Ballyglunin told Judge Geoffrey Browne at Tuam Civil Court on July 18, that along with debts to Bank of Scotland, he owed about €3.5 million. 'Wow! You're up there with the big boys. Are you in NAMA?' the Judge responded. Mr Duffy replied that he thought you had to owe at least €10 million to get into that particular club. 'I'm not hiding from anyone, I just don't have it. I'm paying what I can,' he said. He explained he was paying a considerable mortgage to Bank of Scotland, the same bank following him for the €83,000 debt before the Court. 'Up to 09 I didn't owe a bob to anyone. Then the banks pursued me and pushed me into borrowing about €4.6 million. I still owe €3.5 million.' Eric Gleeson solr (for Bank of Scotland) said they were seeking an instalment order of €1,000 per month against the debtor. He had taken out a loan of €100,000 from the bank but had made no repayments since 2009. He still owed €83,000 on the debt. Mr Duffy is servicing a Bank of Scotland mortgage of €320,000 on his own home, the Court was told. 'What?' asked Judge Browne, 'the same bank who he has a mortgage with is pursuing him for a separate debt and looking for €1,000 per month. If I make the order they are looking for, then how will he pay the mortgage?' Mr Duffy said he had an income of €300 per week and he was already paying Bank of Scotland €350-odd a month. Judge Browne said he wanted to be realistic and make an order that Mr Duffy could meet. The bank would be around a long time and could wait for their money. Making an order for €16 per month, he said: 'How's that, the price of a pint per week. That's the best I can do. 'I won't be here when it's paid off but the banks will and they'll manage.'