Dublin publican contests efforts by fund to take over his premises
A publican is asserting his rights under landlord and tenant legislation to contest efforts by a fund to take over his premises arising out of a €6m debt owed by the owner of the premises, the Commercial Court has heard.
Markey Pubs Ltd, owned by Des Markey, says it is leasing O'Donoghue's of Suffolk Street, Dublin, from a company of Edward O'Donoghue who, along with a number of his corporate vehicles, was advanced loans of €9.4m in 2004/5 by Irish Life and Permanent. The liabilities were guaranteed by one of Mr O'Donoghue's companies, Thingmote, and by a personal guarantee.
The loans were later sold to Havbell DAC in 2015 which demanded repayment from Thingmote of more than €6.2m still outstanding on the loan.
When it was not repaid, Havbell appointed Martin Ferris and Patrick McCoy as joint receivers.
The receivers then applied for injunctions against the tenant, Markey Pubs, preventing any interference with the receivers' efforts to take over and sell the pub.
Today, Rossa Fanning SC, for the receivers applied to have their case admitted to the fast-track Commercial Court.
Damien Keaney BL, for Markey Pubs, said the receivers had raised issues about a fire safety certificate and insurance cover and both those matters were now in order.
Under the Landlord and Tenant Act, his client was entitled to remain in the premises pending determination of the proceedings, he said.
His client was also opposing admission to the commercial list on the basis of delay by the fund in pursuing this matter. Since Havbell took over the loans of Mr O'Donoghue's company, it had taken three years to come to court, he said.
Mr Justice Robert Haughton said the defendant should set out these arguments on affidavit and he would decide next week whether or not to admit it to the Commercial Court.
