The High Court has refused an application by a bank-appointed receiver for an order allowing him to sell a 110-acre family farm in Co Kerry.
Aidan Galvin and his wife Kay claimed they would never be able to get back their dairy farm at Irremore, near Listowel, Co Kerry, if the receiver secured an injunction compelling the couple to hand over vacant possession.
The receiver, chartered accountant Kieran McCarthy, was appointed by Ulster Bank in June 2013 arising out of an alleged failure to repay money the bank claims was advanced to the Galvins and their son Enda Galvin in 2006.
The loan, of approximately €1 million, was primarily used to purchase an adjoining farm. It is claimed Mr and Mrs Galvin put up the 110 acres of their farm as security for the loan. The Galvins’ family home was not included in the arrangement. The couple, in opposing the receiver’s application, reject claims the monies were lent to them. They argue the loan was an arrangement between their son Enda and the bank, to which they were not a party.
Application
Yesterday Mr Justice Paul Gilligan dismissed an application brought on behalf of Mr McCarthy for an injunction, pending the final outcome of the case, to have the Galvins vacate the farm.
In his ruling Mr Justice Gilligan said he was not prepared to grant an injunction. He said there appeared to be no evidence at this stage of any direct contact between the bank and the Galvins. He added there was nothing to tie in the Galvins with the pre-drawing down of the loans advanced by the bank.
The judge said the full hearing of the dispute should be heard before the end of the year. He adjourned the case to a date in October, when the case will be before the court for mention only.