Trust tells receivers to vacate debtors’ properties

A quasi-spiritual trust has moved to assert control over a lucrative portfolio of properties signed into its care, by telling receivers and auctioneers to vacate the lands or face hundreds of millions of euro in claims.

The move has come as a High Court bench warrant was issued against the organiser of the Rodolphus Allen Trust, which says it has accepted €2bn worth of assets from up to 2,000 struggling debtors.

The warrant related to the organiser’s role in a standoff against IBRC receivers in Brannockstown, Kildare, last month. This ended on Wednesday when the bank retook control of the property.