Sharon Shannon and manager agree to withdraw house from sale

Musician Sharon Shannon and her manager, John Dunford, have agreed before the High Court to withdraw from sale a house and studio property in Co Galway which a receiver has been appointed to take over, reports Ann O’Loughlin.

Sharon Shannon and manager agree to withdraw house from sale

Musician Sharon Shannon and her manager, John Dunford, have agreed before the High Court to withdraw from sale a house and studio property in Co Galway which a receiver has been appointed to take over, reports Ann O’Loughlin.

Receiver Ken Tyrell had sought an injunction against Ms Shannon and Mr Dunford who own "Poet’s Corner" in Craughwell. It has been valued at around €275,000, the court heard.

Mr Tyrell claimed there was interference by Ms Shannon and Mr Dunford, as well as by two tenants occupying the property, since he was appointed receiver last February. The case against he tenants, who were not in court or represented, has been adjourned.

Sharon Shannon
Sharon Shannon

Mr Tyrell was appointed by Sheldon Property Finance (SPF) on foot of an outstanding €513,000 debt owed by Ms Shannon and Mr Dunford who in 2015 consented to judgment against them over a Permanent TSB loan. The loan was later taken over by SPF.

Mr Tyrell claimed a Galway auctioneer, who had been instructed to sell the property before the receiver was appointed, was continuing to get instructions from Ms Shannon and Mr Dunford.

He also claimed the tenants were attempting to play off the receiver against the owners which had meant rent is not being paid on the property.

Mr Dunford, representing himself and Ms Shannon, said there had been no interference with the receiver or collusion with the tenants. He had only had one phone conversation with one of the tenants and had never met or spoken to the other.

He had told one of the tenants he and Ms Shannon were disputing the validity of the receiver’s appointment.

While they had not brought any proceedings challenging the appointment, they welcomed the case being brought by the receiver and intended bringing a counter-claim, he said.

This was because SPF had not allowed a proposed alternative resolution process, which had been under discussion for sometime, to proceed and appointed a receiver without just cause, he said. They were also challenging the receiver’s appointment because of an interest overcharge of some €14,000 on their debt.

Mr Dunford also said as part of the discussions with SPF, they had proposed an assisted voluntary sale arrangement whereby they Ms Shannon and Mr Dunford would put the property on sale themselves. One of the issues was that SPF had proposed a sale at a considerable undervalue of €125,000 but had only recently come round to accepting a valuation of around €275,000, he said.

Fionnuala Ní Dhúgáin BL, for the receiver, disputed the interest overcharge claim.

She said the two defendants had continued to instruct an auctioneer to sell the property despite the appointment of Mr Tyrell. Only recently, the auctioneer had tried to get into view the property for an American family who were looking to buy it but one of the tenants said they could not do so because of the challenge to the appointment of the receiver.

Mr Dunford, following questions from Ms Justice Leonie Reynolds, undertook to instruct the auctioneer to remove the property from the market, including taking down any signs, internet and other advertising, by 5pm on Wednesday, July 26.

He also agreed not to interfere in anyway with the receiver.

On the basis of those undertakings, the judge said, that appeared to deal with the matter until it comes for full trial.

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