A dispute between the landlord of a south Dublin premises and Tullow Oil has been admitted to the fast-track Commercial Court.
The action has been brought by Central Park GP Co Propco Ltd against Tullow Oil Ltd and UK-registered Tullow Oil Plc over three lease agreements for the fifth, sixth and seventh floors of the Central Park building at Leopardstown in Dublin.
The value of the three lease agreements to the landlord total some €1.3 million per year, it is claimed.
Central Park, represented by Declan McGrath SC, claims the agreements are not due to expire till 2031.
The court heard the defendants claim they are fully entitled to break the lease agreements, in place for several years.
The firms’ solicitors say there is “no logic” to Central Park’s claim that Tullow Oil is not entitled to exercise break options contained in the various lease agreements.
Central Park seeks various declarations that the purported break notices, served on the plaintiff between August 2020 and February last, are of no legal effect and are invalid.
It further seeks damages for alleged breach and that Tullow Oil plc continues to pay all rent and charges due under the lease agreements.
The action was admitted to the fast-track Commercial Court list by Mr Justice David Barniville and will be mentioned before the court later this year.
