Receiver's court bid to secure couple's luxury penthouse fast-tracked to commercial court
A bid by a receiver to secure possession of a couple's luxury penthouse apartment has been admitted to the fast track commercial court list.
Receiver Mr Ken Tyrrell of PWC, who was appointed receiver in October by Pentire Property Finance is seeking various orders including one granting him vacant possession of the property at 28 and 29 Howth Lodge, Howth, Dublin 13.
The proceedings are against Mr Paul Carroll and his wife Mrs Jane Carroll.
The property was put up as security by Mr Carroll for loans he received from Bank of Scotland in 2004 and 2005.
The loans had been acquired by Pentire.
It is claimed that the debt on the loans owed to the fund by Mr Carroll is €1.4m.
Mr Tyrell claims the apartment had at the time of the loans been two separate properties, but have since been converted into one unit.
Attempts to resolve the matter had not succeeded and the defendants have refused to deliver up vacant possession.
At the Commercial Court today, James Doherty SC for Mr Tyrrell sought to have the case admitted to the fast track commercial court list.
The court heard Mr Tyrrell seeks various orders against the Carroll's including an injunction requiring them to vacate the two properties.
Mr Carroll, who represented himself at the hearing, had opposed the case being admitted to the list.
Mr Carroll told the court that one of his objections was that the application had placed a valuation on the properties that was too high.
He produced a document to the court which valued the properties at €750,000.
He also disputed the amount of the debt claimed by the fund and said the property had since the loan was taken out become his and his wife's family home.
He also challenges the validity of the receiver's appointment.
Mr Tyrrell disputes the claim the property is the family home and said it was purchased as a residential investment.
He claims assertions made by Mr Carroll are designed to frustrate the realisation of the secured properties.
Mr Justice Brian McGovern said he was satisfied the case should be admitted to the Commercial Court list.
The Judge, noting Mr Carroll's objections, said he had raised issues that should be advanced at the hearing of the action.
The case was adjourned to February.
