Anthony and Gregory Alken seek to stop sell-off

Two brothers want to stop a company which took over multimillion-euro property investment loans they had with Ulster Bank from enforcing repayment by selling off their secured assets.

Anthony and Gregory Alken, who owned and operated the Febvre wine-importing business until they lost control in 2014, had loans from Ulster Bank totalling around €21m.

They have asked the Commercial Court for a number of injunctions and declarations, including that the company which acquired their loans, Seaconview Ltd, be prevented from acting as assignee of the Ulster Bank facilities in a manner which is inconsistent with the terms of an agreement that there would be no recourse to their secured assets.