ICC to pay €640k damages

THE Irish Coursing Club (ICC) has been ordered to pay €640,000 in damages to a private firm and could face further costs after a court case relating to a disputed land deal next to its grounds.

Mr Justice Frank Clarke announced the verdict at the commercial court yesterday as part of a long-standing case taken by developer company Greenband Investments.

The move potentially places a question mark over the financial stability of the Irish Coursing Club, with a trustee of the group previously stating substantial costs arising from the case could have “a major effect on the club”.

Mr Justice Clarke awarded the damages to the private firm during a hearing yesterday and is due to provide a written verdict on the case and a relating issue today.

While the €640,000 expense is a fraction of the original €5.9 million claim, a decision on further costs to be awarded will not be made until another hearing planned for March 30.

The case, which was originally taken against the ICC in June 2008, relates to the coursing organisation’s interest in land next to its Powerstown Park stadium premises in Clonmel, Co Tipperary.

Greenband Investments sued the ICC to compel it to complete the sale of part of the lane way after claiming its €31m retail development would be jeopardised if this did not take place.

It claimed it made a written agreement with the ICC trustees in March 2008 to buy the lands for a sum of €100,000 and had paid a deposit of €10,000.

Greenband Investments claimed the ICC was aware at all times the purchase of the lands was part of a larger scheme of development by the private firm.

While the ICC had previously been told it would have to pay damages as a result of the dispute, the exact cost was not made clear until yesterday’s commercial court hearing.

In a statement responding to the news, the ICC said it needed to discuss the verdict with its members.

“The original claim was €5.9 million. Now that we know the damages we will be in a position to consider our position.

“We will meet our senior counsel and review the judgment and, of course, we will also report to our members before we decide what our next step will be,” the statement read.

The written verdict from Mr Justice Clarke will be made later today.