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Markey Pubs Contests Receivers' Take Over Of O’Donoghue’s Bar

Published on Nov 13 2018 2:44 PM in Pub/Bar/Nightclub tagged: Markey Pubs

Markey Pubs Contests Receivers' Take Over Of O’Donoghue’s Bar

Asserting his right under landlord and tenant legislation, a publican is contesting efforts by a fund to take over his rented premises in the face of a €6 million debt owed to the property's owner.

The Irish Times reports that Des Markey's Markey Pubs Ltd firm has said it is leasing O’Donoghue’s of Suffolk Street in Dublin from an Edward O’Donoghue-owned company that was advanced loans of €9.4 million along with several of its corporate vehicles in 2004/5 by Irish Life and Permanent. The liabilities were said to be guaranteed by one of Mr O’Donoghue’s companies, Thingmote, and by personal guarantee.

Sold Loans And Injunctions

The loans were subsequently sold to Havbell DAC in 2015 and when they were not repaid, Havbell appointed Martin Ferris and Patrick McCoy as joint receivers, who proceeded to apply for injunctions against tenant Markey Pubs to prevent interference in the receiver's efforts to take over and sell the premises.

Landlord and Tenant Act

However, Damien Kenny, acting on behalf of Markey Pubs, has said that issues raised by the receivers about a fire safety certificate and insurance are now in order, and, under the Landlord and Tenant Act, Markey Pubs is entitled to remain in the property pending determination of the proceedings.

Mr Justice Robert Haughton has asked that the defendant set out these arguments on affidavit and said that he will then decide next week whether or not to admit it to the Commercial Court.

© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

 

 

 

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