Ellen Construction Ltd (In Receivership): Wallace -v- Fortune & anor [2014] IESC 6 (18 February 2014)

Ellen Construction Ltd (In Receivership): Wallace -v- Fortune & anor [2014] IESC 6 (18 February 2014)

The High Court had jurisdiction under s.316 of the Companies Act 1963 because the directions sought concerned the property interests of Ellen Construction Ltd as licensee. There was no evidence of a binding agreement obliging Ulster Bank or Ellen to release their interests in the three houses, as the only unchallenged evidence of the arrangement was that asserted by Ulster Bank, and the correspondence did not encompass the full terms necessary for such a release.

Citation
[2014] IESC 6
Parties
Applicant/respondent: Kieran Wallace, Receiver of Ellen Construction Limited (In Receivership); Respondent/appellant: Michael Fortune; Respondent/appellant: Cyril Barden
Jurisdiction
Ireland
Judgment Date
18 February 2014
Procedural Posture
Appeal / Supreme Court Judgment on Appeal From High Court
Outcome
Appeal dismissed; order of the High Court affirmed.
Legal Topics
Receivership, Release of Security, Jurisdiction Under Companies Act, Interpretation of Contractual Arrangements
Company Law Property Law Contract Law Receivership Release of Security Jurisdiction Under Companies Act Interpretation of Contractual Arrangements

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 3 Party arguments 2 Amounts and remedies 6
Sign in to unlock

Parties

Kieran Wallace, Receiver of Ellen Construction Limited (In Receivership)

Applicant/respondent

Michael Fortune

Respondent/appellant

Cyril Barden

Respondent/appellant

Procedural Posture

Appeal / Supreme Court Judgment on Appeal From High Court

Legal Issues

  1. 1 Whether the High Court had jurisdiction under s.316 of the Companies Act 1963 to determine the dispute regarding release of security over specified properties
  2. 2 Whether there was a binding agreement obliging Ulster Bank and Ellen Construction Ltd to release their interests in three specified houses

Ratio Decidendi

The High Court had jurisdiction under s.316 of the Companies Act 1963 because the directions sought concerned the property interests of Ellen Construction Ltd as licensee. There was no evidence of a binding agreement obliging Ulster Bank or Ellen to release their interests in the three houses, as the only unchallenged evidence of the arrangement was that asserted by Ulster Bank, and the correspondence did not encompass the full terms necessary for such a release.

Court Disposition

Appeal dismissed; order of the High Court affirmed.

Orders

  • The appeal is dismissed.
  • The order of the High Court is affirmed.