Apartment owner’s action against Start Mortgages is resolved

A High Court action by an apartment owner against lender Start Mortgages and receivers appointed over the property has been resolved.

David Allen claimed Start had no legal entitlement to appoint receivers Ken Fennell and James Anderson of Deloitte over an apartment at Atlantic Coast Apartments, Tramore, Co Waterford.

Mr Allen, a 70 year old farmer from Johnville, Rathdangan, Co Kildare, bought the apartment in 2000 after borrowing some €125,000 from Irish Life and Permanent.

He claimed Start’s attitude towards him after it acquired the loan was aggressive.

Last year, he informed Start he was seeking to sell the property in order to redeem some €82,000 due on the loan.

He claimed he had obtained a buyer for the property which would have allowed him to pay off the loan but Start had appointed receivers over the property last December.

The recievers’ agents, he claimed, entered the apartment and changed the locks, putting the sale at risk.

Orders

As a result, he sought orders against the defendants, including injunctions, restraining the receivers interfering with, trespassing on or attending at the apartment.

The matter resolved some weeks ago and the only issue between the parties was legal costs.

On Friday, Hugh O'Flaherty BL, for Mr Allen, told Ms Justice Leonie Reynolds all issues had been resolved and the matter could be struck out on consent, with no order as to costs.