Former Sligo Mayor secures injunction against fund-appointed receiver

A former Mayor of Sligo and his wife have obtained a High Court injunction preventing a fund-appointed receiver from taking possession of two residential properties they own in Temple Street, Sligo. Ms Justice Carmel Stewart ruled that James McGarry and Louise McGarry were entitled to an order restraining receiver Tom O'Brien from dealing with the properties pending full hearing of the dispute. The couple, from Strandhill Road, challenged the receiver's appointment by Havbell DAC, which succeeded to their interests in loans taken with Permanent TSB in 2006. They contend the original mortgage documents lack standalone power to appoint a receiver. The judge found fair questions arose regarding the validity of the appointment and noted that damages would not be an adequate remedy. The court expressed serious concern about the couple's property rights. The case was listed for mention before the court the following week.