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Mortgagor injuncted from interfering with property under control of validly appointed receiver
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High Court, in a set of consolidated commercial court proceedings: (1) grants mandatory interlocutory injunctive relief to receiver of business premises in Dublin City preventing the plaintiff mortgagor in default from interfering with its work where there is evidence to establish the receiver had been validly appointed and there is a specific amount due and owing to the lender; and (2) refuses the mortgagor's application to restrain receiver's ability to collect rent and interfere with property as there is no fair issue to be tried in circumstances where correspondence relating to an agreement between the parties permitting the mortgagee to settle its debt, at a substantial discount, was contingent upon specific conditions together with a timeframe for the payment of a final amount which the mortgagor failed to meet.
Commercial Court - two related proceedings - application to restrain defendant from entering upon premises in his capacity as receiver and from collecting rent from tenants - application for specific performance of alleged contract relating to premises - proceedings consolidated - interlocutory injunctive reliefs - challenge to receiver's authority - deed of conveyance and consignment of loan did not have signature of parties to agreement - true copy of agreement obtained during hearing - no doubt about execution of loan transfer - bulk of properties now purchased but final amount due of £235,000 - interest in upper floors of premises mortgaged to bank - whether a binding agreement between parties that bank would release its security over properties if certain funds remitted to bank - delay in making final payment - whether owing to deficiencies in title - campus oil principles - payment of final amount subject to conditions, as per agreement - time limit on payment of funds - plaintiff's advisor contacted by bank indicating no agreement then in place given delays in remitting funds - correspondence relied on by defendant very clear - no fair issue to be tried - damages an adequate remedy as receiver has received expressions of interest for sale of property at specific price - prima facie evidence of valid appointment of receiver - balance of convenience lies in receiver's favour to continue on with his work - application to vacate the lis pendens - whether plaintiff has a claim against the title and whether application is bound to fail - receiver is not the owner - registration of lis pendens cannot be allowed to stand - prohibitory and mandatory injunctive reliefs sought - mandatory relief necessary to allow receiver to continue his work - plaintiff to vacate premises and not otherwise interfere with receivers actions over property.
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