The High Court has ruled joint receivers for a financial fund are entitled to an injunction requiring a man to vacate a residential property in South County Dublin.
Ms Justice, Leonie Reynolds found the receivers were entitled to orders requiring Mr Paul Coates to remove his personal property from and vacate what was described as a substantial premises located at Coldwater Lakes, Saggart, Co Dulin.
The injunction is to remain in place pending the outcome of the full hearing of the dispute.
The orders were sought by receivers Luke Charleton and Andrew Dolliver, who were appointed by Promontoria Aran Limited in December 2016, arising out of Mr Coates' failure to repay a loan advanced to him by Ulster Bank in 2005.
The property was used as security for the loan, which was used to assist a personal investment in a capital guarantee bond. Promontoria acquired the loans from Ulster in February 2016, and claim they are owed €1.5m by Mr Coates.
They bought proceedings after Mr Coates refused to give up vacant possession of the property.
Mr Coates had argued the property has been his principal private residence since May 2015.
He claimed the receivers failed to afford him an opportunity to avail of the Mortgage Arrears Resolution Process, as required by the Central Bank's 2013 Code of Conduct on Mortgage Arrears.
He also claimed the proceedings should have been brought before the Circuit Court.
The court also heard Mr Coates had threatened to make a formal complaint against the receivers to An Garda Siochana alleging harassment, duress and undue influence.
Lawyers for the receivers denied the claims and said the code of conduct did not apply because Mr Coates drew down a commercial mortgage for investment purposes in respect of the property.
In her judgment, Ms Justice Reynolds rejected Mr Coates' arguments.
The court did not accept that the property constituted Mr Coates principal private residence in circumstances where it was clear that it remains the security for a commercial loan he had entered into in 2005.
The Judge also noted Mr Coates had failed to clarify the issue of where he had resided and what was his official address for several years prior to when he claimed the Saggart became his principal residence.
The judge added that since taking up residence Mr Coates had discharged a total of €3,000 against the total liability of €1.5m owed to the fund.
This was until an agreement was reached at end of the hearing of the injunction application for the payment of €2000 per month pending the resolution of the proceedings.
Mr Coates had also additional debts of some €6.9m owed to PTSB, which is currently being addressed on an interest-only basis, the Judge added.
No explanation was given to the court as to his ability to discharge the monies due, the Judge said, given that Mr Coates is has no disclosed source of income, the Judge said.
In all the circumstances the Judge said she was satisfied a strong arguable case has been been made out that would allow the court grant the reliefs sought by the joint receivers.
The matter will return before the court next week.