John F Ronan & Ors v Declan Taite [2013] IEHC 386 (15 August 2013)

John F Ronan & Ors v Declan Taite [2013] IEHC 386 (15 August 2013)

The receiver is entitled to appropriate income and proceeds from Poppyfield and West City in the manner most advantageous to NALM, recover arrears of rent accrued prior to appointment, and take control of service charge funds but must ring-fence them pending inquiry into tenants' and management company's claims.

Citation
[2013] IEHC 386
Parties
Applicant: John F. Ronan; Applicant: John Fraher; Applicant: Richard Pratt; Applicant: Sean White; Respondent: Declan Taite
Jurisdiction
Ireland
Judgment Date
15 August 2013
Procedural Posture
Application for Directions by Statutory Receiver / Judgment on Originating Notice of Motion
Outcome
application granted
Legal Topics
Receiver's Powers, Appropriation of Payments, Arrears of Rent, Service Charges, Secured Creditor Rights
Company Law Banking Law Property Law Receiver's Powers Appropriation of Payments Arrears of Rent Service Charges Secured Creditor Rights

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Parties

John F. Ronan

Applicant

John Fraher

Applicant

Richard Pratt

Applicant

Sean White

Applicant

Declan Taite

Respondent

Procedural Posture

Application for Directions by Statutory Receiver / Judgment on Originating Notice of Motion

Legal Issues

  1. 1 Whether the Receiver or borrowers determine appropriation of income and sale proceeds from secured assets
  2. 2 Receiver's entitlement to arrears of rent accrued prior to appointment
  3. 3 Receiver's entitlement to arrears of service charges held by management company

Ratio Decidendi

The receiver is entitled to appropriate income and proceeds from Poppyfield and West City in the manner most advantageous to NALM, recover arrears of rent accrued prior to appointment, and take control of service charge funds but must ring-fence them pending inquiry into tenants' and management company's claims.

Court Disposition

application granted

Orders

  • Receiver to appropriate Poppyfield receivables first to Poppyfield Facility, then to West City Facility 2
  • Receiver to appropriate West City receivables to Facility 1 and Facility 2 as best serves NALM