Danninger Ltd, a company owned by property developer Mr Liam Carroll, has decided not to proceed with a High Court action seeking the execution of an alleged verbal agreement with Walden Motor Co Ltd for the purchase of a number of Dublin city centre properties.
Mr Justice Kelly remarked that, having heard the evidence in the case, he was surprised such an action was ever brought.
Danninger had instituted proceedings in which it sought specific performance of an alleged oral agreement for the purchase of 14 lots of properties in Parnell Street and Granby Place, Dublin, for €5.9 million.
Yesterday, Mr James Dwyer SC, for Danninger, told Mr Justice Kelly the company wished to discontinue the action against Walden.
The judge noted that, when the matter started on Wednesday, he had, with the consent of both parties, vacated a lis pendens (a legal notice that litigation is pending), which had been registered against Walden by Danninger.
The judge said he was now being told the proceedings seeking specific performance were being discontinued. Having heard the evidence on Wednesday, he was surprised such an action was ever brought as, it seemed to him, the case was "unstatable" from the outset.
Walden had complained that the Danninger proceedings were delaying the completion of the sale of the property to another developer.
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