Ex-rugby star Frankie Sheehan and brother in property battle with receiver
Published 30/11/2012 | 05:00
FORMER Ireland rugby international Frankie Sheehan and his brother Joseph have brought a High Court action aimed at stopping a bank-appointed receiver from interfering with a number of properties they own.
Bank of Ireland had appointed chartered accountant Michael McAteer as receiver to 17 residential properties acquired and subsequently rented out by the Sheehans and their company.
The Sheehans, who have challenged the validity of Mr McAteer's appointment, claimed the receiver has engaged in behaviour for which he has no lawful authority.
They allege Mr McAteer has carried out various steps, including threatening to evict one of their tenants, which will cause severe damage to the operation of their business.
The action, brought by the Sheehans and mymortgages.ie, which Frankie Sheehan is a director and an employee of, is against the Bank of Ireland (BoI), BoI Mortgage Bank and Mr McAteer.
The properties are located in Cork and Greystones, Co Wicklow, and were all purchased with loans obtained from BoI Mortgage Bank. The Sheehans then rented out the properties.
In their proceedings, the Sheehans are seeking injunctions restraining the defendants and their servants and agents from interfering with the properties. They are also seeking an order prohibiting the bank and Mr McAteer from selling or attempting to sell the properties in question.
They want the injunctions to remain in place pending the final outcome of their action.
They are further seeking a declaration from the court that the appointment of a receiver over the properties is invalid.
Yesterday, Mr Justice Roderick Murphy granted Mr Sheehan's lawyers permission, on an ex-parte basis to bring the proceedings. The judge made the matter returnable to a date in early December.
Ross Maguire, counsel for the Sheehans, said that Mr McAteer was appointed as receiver over the properties on various dates in autumn 2011.
In an affidavit, 29-times capped Frankie Sheehan, with an address at Clarkes Wood Mount Oval Village, Rochestown, Cork, said he feared that the receiver's actions may damage their business.
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