A dispute over costs incurred in the development of the new Grand Canal Theatre in Dublin’s docklands will not affect its opening in March, the Commercial Court was told yesterday.
Developer Joseph O’Reilly’s Ramford Ltd has brought proceedings against O2 co-owner Harry Crosbie arising from an agreement of June 29th, 2007, to develop the 2,000-seat theatre.
Mr Crosbie owns the lease of the theatre at Grand Canal Square, designed by architect Daniel Libeskind and due to open on St Patrick’s Day.
Under the 2007 agreement, Ramford claims it was to design and construct the theatre and to ensure various works were carried out.
It claims Mr Crosbie undertook to furnish a contract sum of €10 million on completion and to discharge additional amounts paid by Ramford to buy and install fixtures and equipment.
Ramford says it had spent €9.4 million on fittings and equipment by July 2009 when a dispute arose as to liability for some €2.9 million of that amount.
