Seaconview dac -v- Chevas Securities ltd. & anor; Seaconview dac & anor -v- Chevas Securities ltd. & anor; Fagan -v- Seaconview dac & anor [2018] IEHC 419 (17 July 2018)

Seaconview dac -v- Chevas Securities ltd. & anor; Seaconview dac & anor -v- Chevas Securities ltd. & anor; Fagan -v- Seaconview dac & anor [2018] IEHC 419 (17 July 2018)

Chevas Securities Limited has no credible defence to the summary judgment application, as documentary evidence confirms the loan remained on-demand and no binding agreement to convert it to term lending existed. The counterclaim for loss of title deeds is unsupported by evidence and independent of the main claim. Seaconview DAC and the Receiver are entitled to an interlocutory injunction, as a right of way of necessity arises to prevent quarantining of the secured apartment blocks, and the balance of convenience favours granting the injunction.

Citation
[2018] IEHC 419
Parties
Plaintiff: Seaconview DAC; Defendant: Chevas Securities Limited; Defendant: James (Seamus) Fagan; Receiver: Anne O'Dwyer; Defendant: Conor Fagan
Jurisdiction
Ireland
Judgment Date
17 July 2018
Procedural Posture
Commercial Summary Judgment and Interlocutory Injunction / Judgment on Summary Judgment and Interlocutory Injunction Applications
Outcome
Summary judgment granted in favour of Seaconview DAC; interlocutory injunction granted prohibiting interference with receiver's access to secured properties.
Legal Topics
Summary Judgment, Receivership, Right of Way of Necessity, Security for Loans, Interlocutory Injunction
Banking and Finance Property Law Injunctions Summary Judgment Receivership Right of Way of Necessity Security for Loans Interlocutory Injunction

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Parties

Seaconview DAC

Plaintiff

Chevas Securities Limited

Defendant

James (Seamus) Fagan

Defendant

Anne O'Dwyer

Receiver

Conor Fagan

Defendant

Procedural Posture

Commercial Summary Judgment and Interlocutory Injunction / Judgment on Summary Judgment and Interlocutory Injunction Applications

Legal Issues

  1. 1 Whether Seaconview DAC is entitled to summary judgment for €9,795,180.16 against Chevas Securities Limited
  2. 2 Whether Seaconview DAC and the Receiver are entitled to an interlocutory injunction preventing interference with receivership and access to secured properties

Ratio Decidendi

Chevas Securities Limited has no credible defence to the summary judgment application, as documentary evidence confirms the loan remained on-demand and no binding agreement to convert it to term lending existed. The counterclaim for loss of title deeds is unsupported by evidence and independent of the main claim. Seaconview DAC and the Receiver are entitled to an interlocutory injunction, as a right of way of necessity arises to prevent quarantining of the secured apartment blocks, and the balance of convenience favours granting the injunction.

Court Disposition

Summary judgment granted in favour of Seaconview DAC; interlocutory injunction granted prohibiting interference with receiver's access to secured properties.

Orders

  • Judgment for €9,795,180.16 plus continuing interest against Chevas Securities Limited.
  • Interlocutory injunction prohibiting Chevas, James Fagan, Conor Fagan, and others from interfering with the Receiver's access to Royston Village apartment blocks and from unlawful approaches to tenants regarding rent payments.