Wallace -v- Roche & anor [2015] IEHC 521 (30 July 2015)

Wallace -v- Roche & anor [2015] IEHC 521 (30 July 2015)

The plaintiff was lawfully appointed as receiver because the legal charge and guarantee were properly executed, stamped, and enforceable; the guarantee was a continuing security not discharged by variations to the facility letter, as the director actively participated in the variations; the company had the corporate power to give the guarantee; and the appointing entity was the legal owner of the charge despite a name change.

Citation
[2015] IEHC 521
Parties
Plaintiff: Kieran Wallace; Defendant: Robert Roche; Defendant: Saltee Hotel (Wexford) Ltd.
Jurisdiction
Ireland
Judgment Date
30 July 2015
Procedural Posture
Plenary Proceedings / Judgment After Trial
Outcome
Declaration granted; no damages awarded
Legal Topics
Appointment of Receiver, Guarantee and Indemnity, Variation of Loan Facility, Ultra Vires, Stamp Duty, Legal Charge, Corporate Capacity
Banking Law Company Law Property Law Appointment of Receiver Guarantee and Indemnity Variation of Loan Facility Ultra Vires Stamp Duty +2 more

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Parties

Kieran Wallace

Plaintiff

Robert Roche

Defendant

Saltee Hotel (Wexford) Ltd.

Defendant

Procedural Posture

Plenary Proceedings / Judgment After Trial

Legal Issues

  1. 1 Whether the plaintiff was lawfully appointed as receiver over the property pursuant to a legal charge
  2. 2 Whether the guarantee was discharged by variations to the facility letter
  3. 3 Whether the guarantee was ultra vires the powers of the company

Ratio Decidendi

The plaintiff was lawfully appointed as receiver because the legal charge and guarantee were properly executed, stamped, and enforceable; the guarantee was a continuing security not discharged by variations to the facility letter, as the director actively participated in the variations; the company had the corporate power to give the guarantee; and the appointing entity was the legal owner of the charge despite a name change.

Court Disposition

Declaration granted; no damages awarded

Orders

  • Declaration that the plaintiff stands lawfully appointed as receiver over the property
  • No award of damages for trespass