Farrell & anor -v- Petrosyan & ors [2016] IEHC 522 (02 March 2016)

Farrell & anor -v- Petrosyan & ors [2016] IEHC 522 (02 March 2016)

Mrs. McLoughlin is precluded from relitigating issues already compromised in the 2010 settlement; the solicitor had ostensible authority to sign the settlement; any defect in the appointment of Receivers was remedied by the Board's ratification; the change of ACC's name had no legal effect on the charges or appointments; no serious issue to be tried was established and damages would be an adequate remedy, thus interlocutory relief is refused to Mrs. McLoughlin and granted to the Receivers.

Citation
[2016] IEHC 522
Parties
Appellant: Farrell & Kelly; Respondent: Petrosyan & ors; Appellant: Carmel McLoughlin; Respondent: ACC Loan Management Limited
Jurisdiction
Ireland
Judgment Date
02 March 2016
Procedural Posture
High Court Civil Proceedings / Interlocutory Applications for Injunctions and Related Reliefs
Outcome
Relief sought by Mrs. McLoughlin refused; injunctions sought by the Receivers granted.
Legal Topics
Appointment of Receivers, Validity of Deeds of Appointment, Effect of Company Name Change, Settlement Agreements, Interlocutory Injunctions
Property Law Banking Law Civil Procedure Appointment of Receivers Validity of Deeds of Appointment Effect of Company Name Change Settlement Agreements Interlocutory Injunctions

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Parties

Farrell & Kelly

Appellant

Petrosyan & ors

Respondent

Carmel McLoughlin

Appellant

ACC Loan Management Limited

Respondent

Procedural Posture

High Court Civil Proceedings / Interlocutory Applications for Injunctions and Related Reliefs

Legal Issues

  1. 1 Whether the Receivers were validly appointed under the Deeds of Appointment from ACC Loan Management Limited
  2. 2 Whether the change of name from ACC Bank plc to ACC Loan Management Limited affected the operation of the charges and the appointment of Receivers
  3. 3 Whether prior grievances and compromised proceedings in 2010 precluded ACC's entitlement to the properties

Ratio Decidendi

Mrs. McLoughlin is precluded from relitigating issues already compromised in the 2010 settlement; the solicitor had ostensible authority to sign the settlement; any defect in the appointment of Receivers was remedied by the Board's ratification; the change of ACC's name had no legal effect on the charges or appointments; no serious issue to be tried was established and damages would be an adequate remedy, thus interlocutory relief is refused to Mrs. McLoughlin and granted to the Receivers.

Court Disposition

Relief sought by Mrs. McLoughlin refused; injunctions sought by the Receivers granted.

Orders

  • Refusal of relief sought in the Notice of Motion by Mrs. McLoughlin and her son filed 25 January 2016.
  • Grant of injunctions in terms of paragraphs 1 to 3 of the Notice of Motion by the Receivers dated 28 January 2016.