Receivers seeking control of guesthouse

Two fund-appointed receivers are seeking possession of a south Dublin property being operated as a guesthouse by the wife of bankrupt developer Thomas McFeely.

Nina Kessler has failed to show she has any valid lease for the property at Abrae Court, Zion Rd, Rathgar, valued at some €1.1m, the receivers allege.

The property was provided as security for unpaid loans advanced to another couple, Frank Brady and Pauline Gibson, said the receiver.

Their case is against Mr Brady, of Faussagh Avenue, Cabra; his wife Pauline Gibson, Landsdowne Gate, Drimnagh; and Ms Kessler.

Mr Brady was declared bankrupt in 2013 and cannot defend the proceedings unless the official administering his bankruptcy chooses to do so. The latter has decided not to.

Yesterday, Judge Brian McGovern granted an application by Cian Ferriter, for the plaintiffs, to fast-track the action in the Commercial Court. The judge returned the case to November.

The proceedings are by receivers Luke Charleton and Marcus Purcell, of accountancy firm EY, and Promontoria (Aran) Ltd (PAL), a fund which acquired certain loans made to Mr Brady and Ms Gibson. They want an order for possession of the guesthouse property and, if necessary, judgment for some €6.06m against Ms Gibson arising from those loans.