Business Irish

Thursday 29 June 2017

Receivers seek legal advice as indebted hotelier refuses entry

Donal O'Donovan and Donal Buckley

DUBLIN hotelier Johnny Moran has dramatically turfed out a bank-appointed receiver from his two Dublin hotels and a city-centre nightclub.

He told the Irish Independent that he is running viable businesses, and wants to get-on with keeping them in operation.

Debts of around €18m are at the heart of the dispute. Yesterday's dramatic developments came three weeks after Anglo Irish Bank seized control of businesses on January 17 including the Holiday Inn on Pearse St, Dublin 2 as well as The Blarney Inn/Kildare Hotel complex spanning Kildare St and Nassau St and including Nassau Niteclub.

The bank appointed the receivers on the same day it called in loans owed by four businesses owned by Mr Moran and Sonjia Maher.

Mr Moran said that he received insufficient notice and with banks in Ireland not lending it was impossible to refinance at such short notice.

Agreements

He said prior to the loans being called in the hotels were fully compliant with their agreements with the bank.

Mr Moran initially allowed receivers David Hughes and Luke Charleton of Ernst & Young to take over the business and they appointed Pembroke Hospitality to manage the businesses for the past three weeks.

The latest twist came after Mr Moran and Ms Maher sought legal advice from solicitors and a team of barristers.

Mr Moran is understood to have retaken possession under his rights as freeholder of the properties.

A source close to the receivers confirmed that their agents were refused entry to the hotels yesterday. The source said that Mr Moran dealt personally with the agents.

The receivers have handed the matter over to their solicitors, who are expected to seek a court injunction preventing Mr Moran from interfering with the receivers' operation of the businesses.

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