A dispute between a real estate management firm and a company owned by two solicitors over the sale of two properties worth an estimated €1.3 million has been admitted to the fast track Commercial Court.

Beechpark Avenue Ltd, which is owned by Eddie O’Connor and Valerie Buckley, principals in O’Connor Buckley Solicitors, own the two properties at Rathdown Road, Phibsborough, in Dublin.

Real estate management firm, Nevada Ltd, which is owned by Phillip and Bridget Dillon, says it loaned Beechpark €1 million to refinance Beechpark’s previous borrowings.

The loan was made on the basis of a charge over the properties along with a personal guarantee and indemnity from Mr O’Connor, it is also claimed.

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There was an alleged default on repayment and last December, Nevada appointed accountant Colin Gaynor, of Resolute Advisory, as receiver over the properties.

On February 18th, Beechpark brought High Court injunction proceedings against Nevada and Mr Gaynor seeking to prevent them from taking possession of or selling the properties as well as challenging the appointment of the receiver.

Beechpark claimed Nevada had agreed to extend the period of the loan provided monthly repayments of €12,500 were made. Nevada denied the claim.

The case was adjourned on the basis of an undertaking from Nevada and the receiver that they would withdraw the properties from auction.

On Monday, Gary McCarthy SC, for the defendants, applied to Mr Justice Mark Sanfey to admit the proceedings to the Commercial Court given the degree of urgency attached to the case.

Counsel said his clients had received an offer of €1.3 million for the properties but the proposed purchaser has said the offer is only valid until March 14th next.

Fintan Hurley BL, for Beechpark, said his client consented to entry of the case to the commercial list. The court was also told there would be a hearing of the injunction matter next week.

Mr Justice Mark Sanfey agreed to enter the case to the Commercial Court and he approved directions agreed between the parties for the hearing of the injunction and the main case.