La Stampa owner terrified and confused to find bank had appointed receiver, court hears

The owner of the former "La Stampa" restaurant in Dublin's Dawson Street, Louis Murray, was "terrified and confused" to find a bank had appointed a receiver to sell the asset just days after he believed he had entered into an agreement for the consensual sale of the property, the High Court heard.

Mr Murray (73), and his company Balieboro Springwater, in receivership, are suing AIB and the receiver claiming they sold his two adjoining Dawson Street properties, including the Dawson Hotel and Samsara Bar, at an undervaluation of €17.5m when he had an offer on the table from an investor of €21.5m.