High Court grants an application for an injunction to prevent a proposed sale of a number of parcels of land, arising from secured borrowings which the Plaintiff had in respect of the lands, on the grounds that the Plaintiff has established an arguable case that the purported sale is in excess of the Second-named Defendant's powers as receiver, and that the balance of convenience and interests of justice favour restraining the Defendants from selling the lands on the basis of the draft contract and the marketing process held on foot of that.
Application for an injunction to prevent a proposed sale of a number of parcels of land - this arises from secured borrowings which the Plaintiff had with the first-named Defendant’s predecessor, Allied Irish Banks, and the appointment of the Second-named Defendant as receiver over the lands by the First-named Defendant - correct approach to an application for a prohibitory interlocutory injunction was set down in Campus Oil v Minister for Industry and Energy (No. 2) [1983] IR 88), was restated in Okunade v Minister for Justice & Ors [2012] 3 IR 152 and was recalibrated by the Supreme Court in Merck Sharpe & Dohme v Clonmel Healthcare [2019] IESC 65 - whether there is a fair question to be tried - Plaintiff argues that the Second-named Defendant was exceeding his powers by purporting to exercise a power of sale as he appears to have carriage of the sale and he is stated in the draft contract to be vendor (as Receiver, on behalf on the Plaintiff) - arguable case that the purported sale is in excess of the Second-named Defendant's powers - balance of convenience.