Thursday 21 September 2017

Noel Smyth seeks completion of car park sale

Noel Smyth
Noel Smyth

Tim Healy

Solicitor Noel Smyth is seeking a court order requiring the owners of Navan Shopping Centre in Meath to complete the purchase from him of a multi-storey car car park next to the shopping mall.

He says Eamonn Duignan and Cathal McCarthy were obliged to buy the car park for €5.1m by December 2012 but have failed to do so.

Judge Brian McGovern yesterday transferred the case to the fast-track Commercial Court list after rejecting objections from Michael McDowell SC, on behalf of the defendants, that Mr Smyth was guilty of culpable delay in bringing his action.

Paul Sreenan, acting for Mr Smyth, said his client had dealt with the matter expeditiously when the contract for sale of the property did not close in December 2012.

In an affidavit, Mr Smyth, a property developer and practising solicitor of Murphystown Road, Sandyford, Dublin, says he wants an order requiring Mr Duignan, Hayestown, Navan, and Mr McCarthy, Garlow Cross, also Navan, to specifically complete the agreement they made in December 1997.

That entitled Mr Smyth to call upon the defendants to purchase the car park for €5.7m less 50pc of the claimable tax set-off allowable on the property which was calculated at €544,105.

The closing date for this was stated in the contract for sale as being December 19, 2012.

He says they failed to complete on the closing date although he is ready, willing and able to complete.

In an affidavit on behalf of both defendants, Mr Duignan disputes Mr Smyth's claims they have a liability under a purported option agreement for the sale of the car park. He also disputes Mr Smyth's interpretation of meaning of documents.

Irish Independent

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