A BID to resolve an action in which repossession of a €10 million property at Smithfield, Dublin, was sought over alleged non-payment of rent has proven unsuccessful, the Commercial Court heard yesterday.
The action has been brought by the owners of the property – John and Joseph Wickham – against Redquartz Smithfield Ltd. The majority shareholder in Redquartz is developer Paddy Kelly and shareholders include his son Simon.
Film company Brownbag Films and Fresh supermarket operate from the property, but are not involved in the court proceedings.
In seeking last month to admit the case to the court, Patrick Leonard, for the owners, said it was a claim for ejectment on title relating to a property valued at €10 million, with an annual rent of €550,000. There were existing rent arrears and there had been difficulties with rent payments.
When the case was mentioned to Mr Justice Peter Kelly yesterday morning, he was asked to adjourn it to later in the day as it appeared a settlement had been reached.
However, yesterday afternoon, the judge was told by Mr Leonard things had broken down relating to the minutiae of the settlement.
Damian Keaney, for Redquartz, agreed the settlement had broken down. The judge said he would hear the matter on Tuesday next.
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