Lack of class action lawsuits prevents justice in tracker mortgage scandal

A solicitor has claimed the absence from Irish law of class action lawsuits is an obstacle to justice for victims of the tracker mortgage scandal.

Solicitor Evan O’Dwyer of Mayo firm O’Dwyer Solicitors represented a woman who obtained a settlement in the first successful case involving them.

Mr O’Dwyer told The Irish Times that Irish politicians did not have “the gumption” to introduce class action lawsuits to Ireland.

He noted that ther is “no facility in Irish law to be able to group together where you have one wrong doer, where you have a lot of victims, and where those victims are seeking redress”.

Mr O’Dwyer continued: “People are even more vulnerable when they’re taking on their own bank, this is where people need to take control of their own banking affairs. If you take on your bank the chances are you owe that bank money, a lot of money, the chances are they have security on your home, so to muster up the courage to be able to say, fine I’m taking all these risks on board, but I’m going to go out and get my dues - it takes a special type of person to do it.

“The fact that class actions don’t exist now means that that person has to have extra qualities to take on the banks.”