Courts / Dublin / Report
Eurocycles/Eurobaby granted injunction against NAMA appointed receiver
Summary
Eurotrek Raleigh (Ireland) Ltd., owners of the Eurocycles/Eurobaby chain, obtained a temporary High Court injunction on 5 June 2014 preventing the receiver appointed by NAMA to lock out the company's South William Street shop. The receiver, acting for landlord Marlindale Ltd., had taken possession of the premises and changed the locks without notice, forcing the shop to close and its ten employees to leave. Eurotrek, represented by Dominic Hussey SC and Colm O'Dwyer BL, argued that the receiver had no right to lock them out and that the repossession was not conducted peacefully. Mr Justice Kevin Cross granted the injunction ex‑parte, allowing Eurotrek staff to re‑enter the premises and preventing further trespassing. The case was adjourned for a later hearing. Eurotrek has operated the shop since 2005, spent €350,000 on refurbishments, and has been negotiating lease terms with the landlord since the original lease expired in 2010.
Who, what, where, when and why
What: Report matter: Eurocycles/Eurobaby granted injunction against NAMA appointed receiver. Procedural stage: hearing_or_decision
When:
- 2014-06-05 Publication
Why: He said he was told that in order to get back in to the premises rent for the premises was now a "market value" of €70,000 to €85,000 per year. CNI source report
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