A Dublin auctioneer has secured an interim High Court order restraining property developer Richard Barrett from taking any steps to hold an extraordinary general meeting (egm) of a company today.
Mr Justice Thomas Smyth granted the injunction yesterday on the application of Dominick Hussey for John Finnegan against Mr Barrett.
The judge also granted interim orders restraining Mr Barrett or his servants or agents from removing the present directors of Camberely or from exercising his vote as the registered holder of any shares in Camberely Investments Ltd. The orders are returnable to Monday next.
Mr Finnegan said his claim against Mr Barrett was in the latter's capacity as trustee of the shareholding held by Mr Finnegan in Camberely Investments Ltd.
Mr Finnegan said the purpose of today's proposed egm was to consider a number of resolutions, including the removal of Joseph and Noreen Kenny as directors and the appointment of Mr Barrett and his business partner, Johnny Ronan, appointed as directors of the company.
Mr Finnegan said he had written to directors of Camberely on November 17th last referring to his beneficial ownership of the entire issued share capital of Camberely and noting that Mr Barrett had written to them requesting the registration of the transfer of his shares to some other party. Mr Finnegan said Mr Barrett had no instructions or authority from Mr Finnegan to do so.
Mr Finnegan said he had in February 1997 held a one-third beneficial interest in a company called Stromport Ltd. He said Mr Barrett held his shares in Stromport in trust as a nominee for Mr Finnegan.
On December 2nd, 1997, he said Mr Barrett had executed a declaration of trust in Mr Finnegan's favour in relation to his holding of two ordinary shares in Stromport and a separate declaration of trust in relation to his holding of five B ordinary shares in Stromport.
Mr Finnegan said he was advised about 1998 in relation to a share swap and he had exchanged his one-third beneficial interest in Stromport for an absolute beneficial interest in Camberely.
Camberely had allotted and issued eight ordinary shares of £1 each to Mr Barrett and one ordinary share of £1 to Bank of Ireland Nominees Ltd. He said those persons held the shares in trust for him as beneficial owner. Joseph and Noreen Kenny were the original shareholders on the incorporation of Camberely and they continued to hold their shares in trust for Mr Finnegan also.
Mr Finnegan said Mr Barrett had written to the directors of Camberely in July 2005, noting he was recorded in Camberely's annual return as a director in place for some years.
