High Court, in refusing an application by a bank to make a conditional garnishee order absolute, makes an order appointing a receiver over the proceeds of sale of unencumbered foreign properties owned by two of the three defendants, while refusing to appoint a receiver over settlement monies held by a solicitor on behalf of the defendants.
Plaintiff obtained a consent judgment to over €2.4 million as against the defendants in December 2015 - order stayed in operation for a period of three months - negotiations continued between the plaintiff and a representative of the defendants in a bid to arrive at an agreed repayment arrangement between the parties - no agreement satisfactory to the plaintiff was reached - plaintiff has received no satisfactory payment since the date of judgment - on 29th May, 2017, following ex parte application being made by the plaintiff, a conditional garnishee order nisi was made against the defendants and a named solicitor was appointed receiver by way of equitable execution over certain properties - in the within application, the plaintiff seeks to have the said arrangements made absolute - in the event that the garnishee order absolute was refused by the court, the plaintiff has made application for the appointment of a receiver by way of equitable execution over certain settlement monies that were previously the subject of the conditional garnishee order - undertaking given by solicitors for the defendants to hold monies for plaintiff - two of the defendant brothers own apartments in Croatia that are unencumbered - how the garnishee process works - difficulties for plaintiff in making its garnishee order absolute - court declines to make absolute the garnishee order previously obtained by the plaintiff - plaintiff has not acted inequitably - order made appointing the solicitor named in the ex parte docket as a receiver by way of equitable execution over the proceeds of sale of the Croatian properties - no order made with regard to monies in settlement account.