Wednesday 28 October 2026Compiled from published reports. Every claim links to its source.

Ireland Crime

Every case followed from the first report to the sentence, or to where the reporting stopped.

Case No. 1830Debt (surcharge interest dispute) · Co. Mayo

High Court rules against €213,000 surcharge interest by Bank of Ireland over Mayo farmer's loan default

Bank of Ireland charged €213,671 in surcharge interest at 9 per cent on a defaulted €1.2 million loan to farmer James Boyle snr of Drumkeen, Claremorris, Co Mayo, after the 2017 facility went into default. The bank obtained a judgment of €1.15 million in May 2022. In April 2025, the High Court ruled that the 9 per cent surcharge rate was unconscionable and not a genuine pre-estimate of loss, and refused the bank an order requiring the estate of the since-deceased Boyle to pay the sum. The bank had suspended its surcharge interest practice in August 2021 after an internal review found its collection costs exceeded the income.

  1. Reportednot reported
  2. Arrestednot reported
  3. Chargednot reported
  4. In court21 Apr
  5. Verdict
  6. Sentenced
reportedhappened, not reportedlatest stagenot yet

Key facts

consolidated from all reports
What happened
  • Bank of Ireland charged €213,671 in surcharge interest at 9 per cent on a defaulted €1.2 million loan.
  • The loan was a 2017 facility to restructure borrowings for the development of five houses, to be repaid in full by May 2018.
Where
The borrower, James Boyle snr, was a farmer from Drumkeen, Claremorris, Co Mayo.
When
The surcharge interest was charged between August 2018 and May 2020.
In court
  • The bank obtained a judgment of €1.15 million in May 2022.
  • In April 2025, the High Court ruled the 9 per cent surcharge rate was unconscionable and not a genuine pre-estimate of loss, and refused the bank an order for the estate of the since-deceased Boyle to pay the sum.
Other details
  • The bank suspended its practice of applying surcharge interest on all loans in default in August 2021.
  • A 2022 internal review found the bank's costs of collecting surcharge interest exceeded the income derived from it.
8 statements extracted from the articles
  • whatThe surcharge interest rate was 9 per cent, more than three times the original lending rate of 2.86 per cent (irishtimes.com)
  • whatThe loan was a €1.2 million facility offered in 2017 to restructure borrowings to develop five houses (irishtimes.com)
  • whereThe farmer was from Drumkeen, Claremorris, Co Mayo (irishtimes.com)
  • whenThe facility was to be repaid in full by May 2018 (irishtimes.com)
  • whenThe surcharge interest of €213,671 was charged between August 2018 and May 2020 (irishtimes.com)
  • courtThe bank obtained judgment of €1.15 million in May 2022 (irishtimes.com)
  • otherThe bank suspended its practice of applying surcharge interest on all loans in default in August 2021 (irishtimes.com)
  • otherA 2022 internal review found the bank's costs of collecting surcharge interest were greater than the income derived from it (irishtimes.com)

The reporting

newest first
  1. 21 Apr2025
    In courtirishtimes.com, first report
    Judge rules against €213,000 charge by Bank of Ireland over €1.2m loan default by Mayo farmer

    High Court judgment finding Bank of Ireland's 9 per cent surcharge interest rate was unconscionable, not a genuine pre-estimate of loss, and that the clause offended against the rule against penalty clauses

    victim, James Boyle snr, male, irish (judged from name)James Boyle snr