The High Court has named Cheldon Property Finance DAC as the sole plaintiff in proceedings over three properties at Fairview Avenue, Dublin, and granted it liberty to seek execution of a 2014 possession order. The court did not determine the amount owed.
In an ex tempore judgment delivered on 24 May 2019, Mr Justice Tony O’Connor also ordered that the possession order be amended to name Cheldon in place of Permanent TSB. He said the changes reflected the transfer of the loan and mortgage and Cheldon’s conversion to a designated activity company. The court said these procedural changes did not set aside or alter the earlier judgment or orders.
The possession order followed a 2014 High Court judgment by Mr Justice McGovern. The Court of Appeal dismissed Jerry Beades’ appeal in November 2017, after earlier proceedings concerning the appeal and Cheldon’s addition as a plaintiff respondent. The Supreme Court had declined to hear a further appeal in 2016.
Cheldon applied for the change to the title of the proceedings and for liberty to issue execution on the 2014 order. Beades opposed the applications. His counsel argued, among other points, that Cheldon was effectively being assigned only part of the possession order. The judge rejected that argument and said the applications were routine steps to give effect to the existing orders.
The judgment referred to Cheldon’s stated intention to transfer Beades’ loan to Pepper Finance Corporation Ireland DAC no earlier than 24 June 2019. The court said that letter did not show that Cheldon would refrain from executing the judgment. It also stated that the exact sum Cheldon might claim—€2,251,584.80 as of 5 March 2019, plus daily interest of €84.68—was not for determination in these applications.
The judge granted Cheldon liberty to issue a further motion for a hearing on 5 June 2019 if it considered further relief necessary, subject to proper notice to Beades’ solicitors. The judgment stressed that the court was not encouraging such a motion. Its final paragraph gives the hearing date as “5th June 2109”, an apparent date error in the source text.