Developers and their loans

Say a bunch of “developers” borrow money from a bank (not an Irish one) and fail to repay it, they lose the asset it was secured on (land, buildings etc), and what about the remainder of the money owed? It being clear through a valuation that the value of the asset is now no longer what it was in the property boom mirage. Say they borrowed 10 million and the value of the asset is now 3 million. What about the 7?? Can they walk away?? The family home is protected, afaik, but what about other assets the guys may have? Even if those other assets were not put up against the original loan, can the bank come after them??

Just this week, I was told by one of the local know alls that a foreign bank (with offices in Ireland) cannot get a judgement registered in Ireland. This is BS, correct?

It depends on what sort of guarantees the developers have given.

Personal guarantees have recourse to the family home, I think.

Yes, it’s BS, anyone can get a judgement against someone in Ireland through the Irish courts, depending on where the contract resolution process is set up and, I suppose, depending on where the assets are.