COUPLE RESTRAINED FROM INTERFERING WITH RECEIVER AT CORRUNDULLA DEVELOPMENT

Date Published: 25-Sep-2012

A Galway couple has been restrained by the High Court from interfering with a receiver appointed by a bank to take over their five-store retail development.

The Irish Examiner reports that Peter and Laura Dillon had borrowed two million euro to develop the units in the village of Corrundulla.

Barrister Peter O’Brien said the loan had been secured on the commercial development that includes a pharmacy, hair salon and takeaway, but repayments had fallen into arrears.

He added that KBC Bank had called in the loan and on failure of repayment had appointed Brian McEnery as receiver.

The receiver had moved to take possession of the development last week and had been met with opposition by Mr Dillon.

Ms Justice Maureen Clarke granted an interim injunction to the receiver and put the matter back to next month.