Courts / Dublin / Report
Businesswoman claims she has 'serious concerns' over €1m investment in Irish firm
Summary
Ms Li Sun, a Dublin-based Chinese businesswoman, has launched High Court proceedings against Clonmannon House Retirement Village Limited. Ms Sun claims she invested €1m in 2019 through the Irish Immigrant Investor Programme, expecting to secure an Irish Visa and receive €1.3m, including interest, after five years. She alleges she has only received €100,000 and that the defendant has refused to provide quarterly management accounts or allow inspection of its books. Ms Sun expresses concern that the company may dissipate assets to avoid payment. The defendant's solicitors have denied any wrongdoing and stated Ms Sun has no reason for complaint. Ms Sun, represented by Sean O'Sullivan BL, secured a temporary High Court injunction on an ex-parte basis from Mr Justice Mark Sanfey. The order restrains the defendant from disbursing, dissipating, or disposing of any monies received from the sale or disposal of its assets or shares. The judge noted the need for caution in granting freezing orders after hearing only one side but was satisfied to grant the temporary order. The matter was adjourned to a date later this week. Ms Sun also seeks judgment for €1.3m, damages for breach of contract, and orders directing the defendant to provide accounts and freeze assets below a certain level pending the determination of the proceedings.
Who, what, where, when and why
What: Report matter: Businesswoman claims she has 'serious concerns' over €1m investment in Irish firm. Procedural stage: hearing_or_decision
When:
- 2024-02-01 Publication
Why: The court heard that in correspondence, solicitors acting for the defendant have denied any wrongdoing and claim that Ms Sun has no reason for complaint. Court evidence reported by CNI
Case subjects
Applicant
Applicant
Applicant
Places mentioned
- High Court
- Clonmannon House
- Main Street
Topics
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