Foley's pub firm director will fight appointment of receiver
Published 14/12/2012 | 05:00
A DIRECTOR of the company that owns Foley's pub on Merrion Row in Dublin's city centre plans to challenge the appointment of a receiver to the firm and the proposed sale of the famous watering hole with a price tag of €2.75m.
It is understood that solicitors for Sean Foley, a director of Belohn Ltd, have written to receiver David O'Connor of BDO Ireland asking him not to sell.
Estate agents CB Richard Ellis, who have set midday today as the deadline for receipt of best bids for the pub, previously said there had been a great deal of interest from prospective buyers.
Located near the Taoiseach's office in Merrion Street and the Shelbourne Hotel on St Stephen's Green, Foley's has been a long-time favourite with government ministers and other politicians.
Among the dignitaries to visit the pub were then British prime minister John Major, who had a pint there in 1995 with then Taoiseach John Bruton.
Film stars Sara Jessica Parker and Matthew Broderick have also visited.
It is understood that Mr Foley's solicitor, Sean Costelloe, has written to the receiver asking that he stand down pending a court declaration on his appointment.
Mr Costelloe's letter says that if Mr O'Connor does not give an undertaking to stop the sale, his firm will seek a court direction.
Mr O'Connor did not respond to the Irish Independent's requests for comment yesterday evening.
Sources suggest that the basis for the challenge may hinge on administrative legalities, including the time lag between the issuing by fax of the deed of appointment by the Bank of Scotland from its Scottish offices and the delivery of the original documents in Ireland.
That time lag might not be in accordance with Scottish law.
The courts may be asked to decide on this and how it impinges the receivership power of attorney.
The Merrion Row premises includes Reilly's Bar which fronts on to Merrion Street and Queen Maedh's Restaurant with its collection of paintings.
It also has a catering kitchen, offices and a self-contained three-bed room residence.