Friday November 27, 2020

High Court stalls takeover of D4 embassy belt property by vulture fund

The property in dispute is in the heart of Dublin’s Embassy belt at 32 Elgin Road, Ballsbridge, Dublin 4.

31st December, 2017
Ms Justice Carmel Stewart

A High Court judge has prevented an overseas vulture fund from taking control of a multimillion-euro property in Dublin 4, owned by the property investor Michael Whelan, pending final determination of proceedings.

Whelan has been locked in a dispute over the property with a subsidiary of the multibillion-euro fund Cerberus, called Promontoria (Finn) Ltd, since January last.

Earlier this month, Ms Justice Carmel Stewart found in a judgment that the “balance of convenience” rested with the...

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