Business Irish

Wednesday 18 October 2017

Ronan-Crean row over prime Dublin site back in court

Stock photo
Stock photo

Tim Healy

A COMPANY behind a planned €100m commercial and residential development on part of Dublin's south docks waterfront district says the project continues to be delayed by another firm in a dispute over legal interest in part of the site.

Balark Investments - part of Marlet Property Group, which is led by developer Pat Crean - says Johnny Ronan's Chambury Investment Company claims Chambury's interest in part of the land at Lime Street and Sir John Rogerson's Quay, overlooking the River Liffey and the Samuel Beckett Bridge, is worth €20m.

Balark says the Circuit Court has already ruled that Chambury's interest in the disputed land is just €60,000 and that is all Balark has to pay to acquire it. Chambury has appealed that Circuit Court decision.

Balark wants the Commercial Court to determine its entitlement to acquire that fee simple interest in the affected land.

Paul Horn, a director of Balark, says in an affidavit that Chambury has sought to frustrate the development by using its freehold interest in certain lots of the site as a form of "ransom strip" in an attempt to force Balark to pay "a completely inflated sum for that interest".

Mr Horn says Mr Ronan had bought the freehold interest in the affected lots in June 2015. However, in September 2015, Mr Ronan's lawyers said he was no longer the owner.

Title records show Mr Ronan transferred the freehold interest to Chambury in October 2015.

Subsequently, Chambury brought proceedings alleging breaches of covenant under the leases for these lots by Balark and served forfeiture notices on Balark, Mr Horn says.

The High Court rejected Chambury's case in June 2016.

Irish Independent

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