Courts / Meath / Report
McElhinneys and bank resolve action
Summary
In a High Court hearing on 15 October 2014, the dispute between McElhinneys fashion stores in Athboy, the Sweeney family owners, and the Bank of Ireland (BOI) was resolved. BOI had appointed receiver Mr Barry Forrest in March 2013 after the Sweeneys failed to repay €2.34 million owed on loans secured by three properties: McElhinneys Department Store, McElhinneys Bridal Shop, and Guinans on Main Street. Forrest had sought possession orders for these premises. The Sweeneys and McElhinneys Limited had initially opposed the orders, arguing a lease entered in July 2010 entitled them to trade on the premises and that BOI had been informed of the lease in September 2010 with rent of €3,000 per month paid until the receiver's appointment. Mr Justice Paul Gilligan dismissed the receiver's application before Christmas.
Who, what, where, when and why
What: Report matter: McElhinneys and bank resolve action. Procedural stage: hearing_or_decision
When:
- March 2013 Incident
- May 31st 2015 Incident
- July 2010 Incident
- September 2010 Incident
- Christmas Other
- 2014-10-15 Publication
Places mentioned
Topics
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