Receiver to seek injunction over seizure of hotel complex

A RECEIVER is to seek a High Court injunction to restrain a businessman from impeding him from taking possession of a hotel, pub and nightclub in Tallaght, Dublin.

Declan Taite, acting on behalf of Irish Nationwide Building Society, says Laurence O’Mahony, who along with another businessman allegedly owe €59 million to the Irish Nationwide, is preventing him from securing the property following his appointment as receiver last Friday.

Ms Justice Mary Laffoy yesterday gave permission to Rossa Fanning, counsel for Mr Taite and the Irish Nationwide Building Society, to serve notice on Mr O’Mahony of the injunction application and she made the matter returnable to next week.

Mr Taite and the building society are to seek orders restraining Mr O’Mahony, the Tallaght Plaza Hotel Ltd, Codex Taverns Ltd and Oakleaf Construction Ltd from preventing or obstructing him from getting into and collecting the Plaza Hotel Complex, Belgard Road, Tallaght.

They also want orders preventing the defendants from trespassing or entering upon the property and that they deliver up the keys, alarm codes, locks and all other security and access devices.

Mr Fanning told the court yesterday that all three defendant companies are controlled by Mr O’Mahony, of Shrewsbury Road, Ballsbridge, in Dublin.

The receiver was appointed on June 18 arising out of a €51m loan given by Irish Nationwide Building Society to him (Mr O’Mahony) and another businessman, Thomas McFeely, of Ailesbury Road, Ballsbridge, to re-finance borrowings on a mixed development in Tallaght.

The total amount now outstanding was €59m with daily interest of €11,500 accruing, counsel said.

While there had been no problem between Mr McFeely and the receiver, Mr O’Mahony had resisted, claiming he had agreements with others in relation to the property, counsel said.

It was his clients’ case, Mr Fanning said, that these agreements were invalid.

Yesterday’s application was brought on a one-side only (ex-parte) basis.

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