Wednesday 13 November 2019

Rugby star Frankie Sheahan in the High Court amid dispute with receiver

Tim Healy

A BID by a former Ireland rugby player and his brother to stop a bank-appointed receiver allegedly interfering with properties they own has been adjourned at the High Court.

Former Ireland and Munster player Frankie Sheahan and his brother Joseph have brought an action over the appointment by Bank of Ireland (BOI) of Michael McAteer of Grant Thornton as receiver to 17 residential properties acquired and later rented out by the Sheahans and their company.

The Sheahans' are challenging the validity of Mr McAteer's appointment and contend he has engaged in behaviour for which he has no lawful authority, such as changing locks on premises and threatening to evict one of their tenants, which will cause severe damage to their business.

The action is bring brought by the brothers and, of which Frankie Sheahan is a director and employee.

The properties, located in Cork and Greystones, Co Wicklow were all purchased with loans from BOI Mortgage Bank.

Injunctions are being sought, pending the outcome of a full action, restraining the bank and the receiver from interfering with the properties or moving to sell them.

Ms Justice Mary Laffoy yesterday adjourned the case until Friday.

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