Maye repays London-based consortium
Published 09/08/2016 | 02:30
The High Court in London is expected to lift an order freezing the assets of Irish developer Michael Maye after he repaid a London-based consortium with whom he had been in dispute with over a stg£1.2m property investment.
Last week a freezing order, the second such order to be issued in as many years against Maye, was issued by a senior judge in London on foot of an application by the London-based consortium.
The order required Maye not to reduce his assets below stg£316,910 - the value of the outstanding monies owed.
Both parties have confirmed to the Irish Independent that the outstanding amount has now been paid.
In September 2015, Maye was served with a freezing order for the amount of £1.2m for monies owed to the consortium. Maye paid £975,000 of the overall amount, but the £316,910 was left outstanding, leading to a further court application.