Frankie Sheehan brings case to stop receiver taking action
Former Ireland and Munster rugby player Frankie Sheehan and his brother Joseph have brought a High Court action aimed at stopping a bank appointed receiver interfering with several properties owned by them.
Bank of Ireland had appointed Michael McAteer of Grant Thornton as receiver to 17 residential properties acquired and later rented out by the Sheehans and their company.
The Sheehans have challenged the validity of Mr McAteer’s appointment and contend the receiver has engaged in behaviour for which he has no lawful authority, such as changing locks on premises and threatening to evict one of their tenants, which will cause severe damage to their business. The action, by the brothers and mymortgages.ie, of which Frankie Sheehan is a director and employee, is against Bank of Ireland, Bank of Ireland Mortgage Bank and Mr McAteer. The properties, located in Cork and Greystones, Co Wicklow, were all purchased with loans from BOI mortgage bank.
Yesterday, Mr Justice Murphy granted an application by the brothers’ lawyers for permission to serve short notice of the proceedings on the defendants.