Businessman starts court proceedings to stop bank seizing his 'family home'
A BUSINESSMAN has brought legal proceedings aimed at preventing the Dublin City Sheriff taking possession of what he claims is his family home.
Gerard Cosgrave is seeking an injunction preventing the Sheriff from executing an order, pending the determination of an action against KBC Bank, allowing him take possession of 3 The Court, Donnybrook Castle, Donnybrook, Dublin. The possession order was granted by the Circuit Court in 2013
The High Court heard the Sheriff was due to take possession of the property earlier today on foot of an order for execution obtained by the bank.
However, arising out of the High Court proceedings, the Sheriff has postponed acting on that order.
Mr Cosgrave wants the High Court to set aside the Circuit Court order.
He claims the bank is not entitled to take possession on grounds including that the Circuit Court lacked the jurisdiction to grant the repossession order on grounds the property is not rated or rateable under the 2001 Valuation Act.
KBC sought the possession order arising out of an alleged failure by Mr Cosgrave to satisfy a demand for the repayment of monies loans advanced to the businessman in 2005 and 2006.
Lawyers for KBC oppose the application to set aside the Circuit Court order which they described as misconceived.
Counsel for the Sheriff said her client would do nothing while the matter is before the court.
Mr Justice Paul Gilligan adjourned the matter to next month.