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.

The owner of the Dublin city centre property which housed the La Stampa restaurant, bar, and hotel claims AIB advertised them for sale at up to €7.5m less than their value.