Frankie Sheahan in court to dispute bank's property claims

Proceedings between Bank of Ireland and former Irish rugby star Frankie Sheahan with his brother Joseph has opened before the High Court today.

Proceedings between Bank of Ireland and former Irish rugby star Frankie Sheahan, as well as his brother Joseph, has opened before the High Court today.

The case concerns the right by the bank to appoint a receiver over several properties owned by the Sheahans and their company.

The brothers have challenged the validity of BoI's Mortgage Bank's appointment last year of chartered accountant Michael McAteer as receiver over 17 properties acquired by the Sheahans.

Mr McAteer was appointed after BoI demanded the loans on the properties be discharged in full after the borrowers defaulted on obligations to make repayments on the mortgages.

In proceedings before the court, Mr McAteer is seeking various orders against Frankie Sheahan restraining him from interfering with the receiver from carrying out his duties in respect of the 17 properties.

The properties in question are located in Co Cork and Co Wicklow.

They were all purchased with loans from BoI Mortgage Bank before being rented out by the Sheahans and their company.

Frankie Sheahan, mymortgages.ie, a company of which Frankie Sheahan is a director and an employee, and Joseph Sheahan have challenged the bank's powers to appoint a receiver over the properties.

They also claim the receiver has no right to possession of the properties.

Separately, BoI Mortgage Bank are seeking an order for possession of a property owned by Frankie Sheahan at Old Quarter, Ballincollig, Co Cork.

That application is also being contested by the former Ireland and Munster hooker, who is represented by Ross Maguire SC.

However, BoI and the receiver say they are entitled to the orders for possession, and that the receivers appointment is valid.

The hearing continues.