The High Court has ordered the sale of a commercial property in County Laois to enforce a judgment mortgage against Patrick Enright’s interest, subject to a three-month payment period after service of the order.
The order concerns a commercial premises of about 129 square metres in Folio 2022 F. Dan & Ellen Comerford Ltd, now in voluntary liquidation, had registered a judgment mortgage against Enright’s half share. The underlying judgment was for €25,317.71, entered in 2009 over ground works connected with three homes at Steeple View, Abbeyleix. The company registered its judgment mortgages in 2011. The judgment notes that at least one other mortgage against Enright’s interest appears to have priority.
Justice Garrett Simons said it was just and equitable to order a sale. The other co-owner, Charles Cass, had not argued against selling the commercial premises and said he had resigned himself to that outcome. The court’s order provides that the property is to be sold under conditions settled by the High Court if the specified sum, with accrued interest, is not paid within three months of service on Enright and Cass. The Examiner’s Office is to investigate any encumbrances and their priority. Half of the sale proceeds is to be paid to Cass or to his credit, subject to encumbrances affecting his interest.
The court declined to sanction a proposal for Cass to buy Enright’s half share for €25,000. The premises had been valued at €150,000 and later at €100,000, which would imply half-share values of €75,000 and €50,000 respectively. Simons said a sale under section 31 could transfer the whole property to a purchaser, so the proposed discount based on selling a half share was not justified. He concluded that a court-supervised sale was fairer given the valuation evidence and the interests of Enright and other mortgage holders.
Cass had sought an accounting adjustment for about €6,000 he said he spent on labour and materials. The court refused the request, finding no evidence that the work increased the property’s value; basic painting and decorating did not meet the statutory threshold.
The judgment did not order sale of the second parcel, the common areas in Folio 17003 at Steeple View. The court said there was no evidence of its open-market value and gave the company liberty to apply for relief concerning that land. The court’s proposed legal-costs arrangements were provisional, with parties allowed to make further submissions by 30 September 2024.