Courts / Galway / Report

High Court grants €2.37m freezing order

Date
2017-02-21

Stage
Hearing Or Decision

Primary locality
Galway

County
Galway

Summary

The High Court has granted a Mareva injunction freezing assets valued at €2.37 million belonging to a County Galway man, following allegations that he provided false evidence during examination before the Master of the High Court. AIB Mortgage Bank obtained the order against Joe McCaul of Roveagh Kilcolgan and two others. The bank claims Mr McCaul denied involvement in collecting rental income of approximately one million euros from properties between January 2012 and July 2015, stating instead that agents of a private trust handled such matters. However, AIB contends this contradicts documentary evidence, including rent receipts signed by Mr McCaul and records of agreed rent reductions. Mr McCaul owns a shopping centre in Clarinbridge and properties across Galway and County Cavan. A receiver was appointed over the properties following a judgment of €2.37 million obtained in 2015. Similar asset-freezing orders were also granted against Mr McCaul's wife and another individual. Mr Justice Paul Gilligan adjourned the matter for one week.

Who, what, where, when and why

What: Report matter: High Court grants €2.37m freezing order. Charges or matters: gave untrue evidence. Procedural stage: hearing_or_decision

When:

January 2012 Hearing Or Sentence
July 2015 Hearing Or Sentence
December 2015 Other
May 2015 Other
2017-02-21 Publication

Why: The orders were sought against those parties because Mr McCaul has said in correspondence that Mr Allen is a representative of the Trust Executives. CNI source report