Between a Hard Rock and a hard place

The epic saga that is the receivership of the Citywest complex in west Dublin has had more twists than a bag of snakes. Here is another: Hard Rock, the music-themed restaurant and hotel company owned by the Seminole native American tribe of Florida, is believed to be casting an eye over the development.

It has held talks with HSS Developments (HSSD), a company linked to the family of the late developer Jim Mansfield, from which Bank of Scotland (Ireland) seized Citywest in 2010. HSSD is separate to HSS, the company in receivership.

The possible entry into the fray of Hard Rock – in league with the Mansfields – may not be music to the ears of the receiver, Martin Ferris.

HSSD, which has also teamed up with financial firm Lansdowne Francs, wrote to Ferris this week claiming to be owed €27 million and threatening to injunct a sale of the complex. It appears to have some bargaining chips.

HSSD claims rights to lands at Citywest’s sprawling convention centre, which Hard Rock is potentially interested in turning into a live music venue to go with the hotel. HSSD also claims ownership of a sewer pipe across the N7, which it alleges is being used by the receiver- run hotel “without permission”.

HSSD claims it has been unable to procure "vital information" from the bank concerning a loan it says was offered to it by former BoSI chief executive Mark Duffy, but later allegedly "reneged" upon. "We have today lodged a complaint [against the bank] with the Financial Services Authority in the United Kingdom, asking them to urgently investigate the matter," it wrote in the letter.

Ferris last month settled a case against Swiss outfit BSQ Investments, which earlier this year failed to produce the cash to complete a €28 million contract to buy Citywest. There’s a few more verses of this song to go yet . . .