Motorway bypass company sues firm over alleged debt of €1.57m
The company operating the Dundalk bypass toll road has sued over an alleged outstanding debt of €1.57 million.
North Link M1 Ltd claims it expects to receive some €433,545 payments from Celtic Roads Group (Dundalk) Ltd to cover payments due to it over the period April to end October 2012 when, it alleges, the correct sum owed is some €1.57 million.
In proceedings transferred to the Commercial Court yesterday by Mr Justice Peter Kelly, North Link claims the defendant has failed to adhere to the terms of a 2004 operation and maintenance agreement between the sides under which North Link agreed to operate and maintain the bypass toll road in return for payments by Celtic Roads. It claims Celtic has refused to accept a decision on a new level of payments made by an independent assessor appointed after the two companies failed, following a review of payments in early 2011, to agree on payments.
The assessor issued his determination last March setting out a formula for calculation of the payments to run for a period of seven years.
On foot of that, North Link had sought payments for some €1.45 million to cover
the period from early April to the end of September 2012 but it claims the defendant has continued to make payments at the lower rates operational prior to the assessor’s determination.