Ballymitty Supplies Stores Ltd (in liquidation) -v- Companies Acts [2011] IEHC 471 (09 December 2011)

Ballymitty Supplies Stores Ltd (in liquidation) -v- Companies Acts [2011] IEHC 471 (09 December 2011)

The properties do not constitute land burdened with onerous covenants within the meaning of s.290(1) Companies Act 1963; the obligations under the Deed of Grant of Easement are proportionate and not onerous, and financial liabilities do not bring the properties within s.290(1); therefore, the court lacks jurisdiction to grant leave to disclaim.

Citation
[2011] IEHC 471
Parties
Applicant / Liquidator: Philip Tubritt; Company: Ballymitty Supplies Stores Limited (in liquidation); Notice Party: Bank of Ireland; Notice Party: Wexford County Council; Notice Party / Director / Guarantor: Padraig Kelly; Notice Party / Director / Guarantor: Bridie Kelly; Notice Party: Lena Kelly
Jurisdiction
Ireland
Judgment Date
09 December 2011
Procedural Posture
Application Under Companies Act for Leave to Disclaim Property / High Court Judgment
Outcome
Application dismissed
Legal Topics
Liquidator's Powers, Disclaimer of Onerous Property, Onerous Covenants, Jurisdiction Under S.290 Companies Act
Company Law Insolvency Law Liquidator's Powers Disclaimer of Onerous Property Onerous Covenants Jurisdiction Under S.290 Companies Act

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Parties

Philip Tubritt

Applicant / Liquidator

Ballymitty Supplies Stores Limited (in liquidation)

Company

Bank of Ireland

Notice Party

Wexford County Council

Notice Party

Padraig Kelly

Notice Party / Director / Guarantor

Bridie Kelly

Notice Party / Director / Guarantor

Lena Kelly

Notice Party

Procedural Posture

Application Under Companies Act for Leave to Disclaim Property / High Court Judgment

Legal Issues

  1. 1 Whether the properties owned by the company constitute 'onerous property' under s.290(1) of the Companies Act 1963
  2. 2 Whether the court has jurisdiction to grant leave to the liquidator to disclaim the properties

Ratio Decidendi

The properties do not constitute land burdened with onerous covenants within the meaning of s.290(1) Companies Act 1963; the obligations under the Deed of Grant of Easement are proportionate and not onerous, and financial liabilities do not bring the properties within s.290(1); therefore, the court lacks jurisdiction to grant leave to disclaim.

Court Disposition

Application dismissed

Orders

  • Order dismissing the applicant’s application