Courts / Dublin / Report
€9 million and damages sought in property loan row
Summary
D&L Properties Ltd, a Dublin firm, has sued Channel Islands‑registered Yolanda Ltd for €9.7 million plus damages, alleging breach of contract after Yolanda failed to repay €2.2 million loaned for a Palace Street, London development. The loan, advanced in November 2008, was part of a joint‑venture‑type agreement that required Yolanda to pay 20 % interest for 12 months, then 2 % thereafter, and to provide D&L with a 12.5 % shareholding in Elgin Ltd, a parent company, a second charge on the development lands, and £2 000 per day of Mr Derek O'Leary's attendance. D&L claims Yolanda sold the apartments and retained the proceeds without repaying the loan or accounting for it. The case was admitted to the fast‑track Commercial Court list by Mr Justice Brian Cregan; Yolanda's counsel intends to seek dismissal. The matter was adjourned for two weeks.
Who, what, where, when and why
What: Report matter: €9 million and damages sought in property loan row. Procedural stage: hearing_or_decision
When:
- November 2008 Other
- 2015-06-22 Publication
Places mentioned
- Palace Street
- Oakmount The Birches Torquay Road
- Dublin
- Torquay Road
Topics
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