Part of the proceeds from the sale of an £800,000 family home in Rathgar, Dublin, was frozen yesterday by Judge Bryan MacMahon on the application of Lombard & Ulster Banking Ltd.
Mr Paul Fogarty, counsel for the bank, told Dublin Circuit Civil Court that Mr Momtaz Tadros, of Garville Avenue, Rathgar, had gone guarantor for catering equipment bought by Fantana Inns Ltd, trading as Casa Rustica and which runs a restaurant at La Touche Hotel, Greystones, Co Wicklow.
He said the bank was now seeking £22,292 on foot of the guarantee, following failure to keep up leasing payments on the catering equipment. A bank collections agent, Mr Gerry Healy, said Mr Tadros was currently disposing of his principal asset, his home, which had been sold privately for about £800,000. Mr Fogarty said the bank did not seek to frustrate the sale of the Tadros family home but sought to freeze £22,292 for the amount payable from the proceeds to Mr Tadros.