A dispute over the seizure of a ferry that provides the only access to an island hotel and golf course came before the High Court yesterday.
Waterford Castle Hotel, on an island on the river Suir at Little Island, Ballinakill, Waterford, began proceedings against the ferry owners.
Cendant Ltd, which runs the hotel and golf course, the receiver of the complex Eoin Ryan, and Fabjoll, the firm running the ferry service, brought the action against the vessel’s owners, Galtee Plant Hire.
Under a charter agreement, the Loreley sailed between the foreshore and the island where the hotel is located. The ferry owners, who became unhappy with the manner in which the charter agreement was assigned by the receiver to Fabjoll last August, decided to terminate its charter with the hotel on September 16th. The hotel was given 14 days' notice of the decision.
Seized control
On September 27th, the hotel claimed a director of Galtee, Noel Simpson, and some men seized control of the ferry. As a result, Cendant, Fabjoll and the receiver obtained temporary High Court orders restraining Galtee and Mr Simpson from entering on to or interfering with the vessel.
The ferry started running again after the injunction was secured.
The matter came before Mr Justice Gerard Hogan at the High Court yesterday. Following discussions it was agreed the ferry would continue to provide the service until the end of the week. The receiver has made arrangements for a replacement vessel.
The injunction is to remain in place until Friday. Mr Justice Hogan welcomed the agreement. Earlier this year a liquidator and a receiver was appointed to the two companies that own and operate the Waterford Castle Hotel and golf course. National Asset Loan Management Ltd, an arm of Nama, was granted an order winding up the two companies, Negold Ltd and Cendant Ltd, which owe Nama just under €34 million.