Ex-taoiseach's brother settles property action
Published 04/11/2016 | 02:30
Retired businessman Jim Reynolds has settled legal proceedings aimed at preventing a financial fund and its receivers from selling three properties he owns.
The properties at the centre of the action are two terraced houses at Elgin Road in Ballsbridge, Dublin 4, and The Annaly Hotel, Main Street, Co Longford.
Mr Reynolds (86), of Golflinks Road, Longford, is the brother of former taoiseach the late Albert Reynolds. He had sought High Court injunctions preventing financial fund, Promontoria (Aran) Ltd, and receivers, Kieran Wallace and Patrick Horkan of KPMG, from selling the three properties.
He had also sought an order preventing the defendants from placing, advertising and marketing the properties for sale, or from inviting and accepting offers for the properties or from holding themselves out as having a power of sale over the properties.
The defendants rejected claims they had done anything wrong.
Mr Justice Paul Gilligan was told yesterday the matter had been settled and Mr Reynolds' proceedings against Promontoria could be struck out.