A bank-appointed receiver is entitled to orders for possession of a corner shop in Waterford city, the president of the High Court has ruled.
Anthony and Anne Elliott, who own and operate the mini-market at Griffith Place, Waterford, had pleaded with the court not to grant possession to receiver John Coulston of RSM Farrell Grant Sparks of either the shop or an apartment they own.
Mr Elliott said he and his wife would be “left without a livelihood and have no means of income” if they had to hand over the shop and claimed the receivers had acted in an underhand and intimidatory manner towards them.
However, High Court president Mr Justice Nicholas Kearns said while he had "every sympathy" with the Elliotts, he had no choice but to grant the receiver possession of the properties.
The judge placed a three- month stay on the order to allow the Elliotts to sort out their affairs. This was another “tragic” case where “decent” people had found themselves in financial difficulties caused by the recession.
A receiver was appointed in June 2012 by ACC after the Elliotts failed to pay a demand to repay loans advanced to them in 2004. They fell behind on repayments and now owe ACC some €600,000.