BANK-APPOINTED receivers of an apartment block in Dublin have secured a temporary High Court order restraining obstruction of access to the property.
Tom Kavanagh and Ken Tyrrell, who were appointed receivers by Bank of Scotland last month to the complex of 83 apartments and six retail units at 48-59 North King Street, Dublin 7, brought the case over being allegedly “locked out” of the property.
In an affidavit, Mr Kavanagh said the refusal of access was “a serious matter”. He believed the tenants were mainly students and small businesses, but did not know how many there were and, while he believed temporary insurance was in place, he did not know whether this was adequate.
The receivers required “unfettered access to the property to ensure that all health and safety issues are complied with”, he said.
The proceedings were against Eugene and Deirdre O’Neill, Oberstown Lodge, Oberstown, Naas, Co Kildare, alleged by the bank to be the owners of the property, and Kingstreet Complex Management Ltd, Maynooth Road, Barberstown, Maynooth, Co Kildare.
The O’Neills claimed they leased the property to the company in 2006, but the bank has disputed the validity of any such agreement.
Last month, the bank issued two letters of demand against the O’Neills seeking repayment of two loans, one for €23.39 million and the other for €1 million, sanctioned to them in 2005 and 2006 respectively. Those demands had not been met, the bank said.
The bank claims, under the terms of the loan agreements, the O’Neills granted security over the property in favour of the bank.
Yesterday, the receivers secured interim orders from Ms Justice Mary Laffoy restraining the defendants or anyone with notice of the orders impeding or obstructing the receivers or their agents gaining access to, or securing, the King Street property.
The defendants were also ordered to deliver up keys, alarm codes and all other security and access devices related to the property.
Bernard Dunleavy, for the receivers, said they would also be seeking possession of the property and a direction requiring the defendants to pay into court any rent collected from tenants.
The injunctions were granted on an ex-parte basis and the matter was returned to next week.