Dispute over €4.1m commercial unit in Cork comes before the High Court
A dispute over an alleged agreement to purchase a commercial premises in Cork for €4.1m has been admitted to the fast-track Commercial Court list.
The action has been taken by Cathy Murphy against Urban Green Private Ltd, with a registered office at Lee Road, Cork, who it is alleged had agreed to purchase Cleve Quarter, Monahan Road, Cork from the applicant, but have failed to complete the deal.
In High Court proceedings against the company Ms Murphy claims that Urban Green Private had signed a contract with her for the sale of the premises she owns, which was due to close in November of last year.
However the sale has not closed.
Represented by Martin Hayden SC Ms. Murphy of Rochestown Road, Cork seeks various orders from the court including an order requiring Urban Green Private to specifically perform the contract to purchase the property.
Mr Hayden, appearing with Ross Aylward Bl, said that his client needs the sale to go through so she can discharge a liability she has to charge holders, on foot of a personal guarantee she had given.
The failure by the defendant to close the sale has caused her to suffer damage, and almost resulted in the risk of a receiver being appointed over the property, counsel said.
The case, following an application by Ms Murphy's lawyers, was admitted to the fast-track Commercial Court list by Mr Justice Senan Allen. There was no object to the application to admit the case.
The judge however said he was not prepared to make a temporary order sought by the applicant effectively freezing funds held by the defendant's solicitor which it is alleged were to be used by Urban Green to purchase to property.
The defendant, represented by Jerry Healy SC, had opposed the application for the freezing order.
The matter will return before the courts later this month.
