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High Court hears claim of company law breach in order to buy Kerry hotel

Nov 24, 2022 13:11 By radiokerrynews
High Court hears claim of company law breach in order to buy Kerry hotel High Court hears claim of company law breach in order to buy Kerry hotel
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The High Court has heard a claim of an alleged breach of company law to buy and renovate a Kerry hotel which is used to house Ukrainian refugees.

Yvonne Treacy, who’s a director and 50% shareholder of a company called Combray Limited, has brought the action.

The Wexford-based businesswoman is seeking permission from the High Court to bring an action on Combray’s behalf against her husband Anton Treacy who owns the remaining 50% of the company.

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The court heard that the couple has separated.

The action Yvonne Treacy is bringing against her husband and other parties relates to the purchase and refurbishment of the Golf Hotel in Ballybunion.

The other parties are Blackoak Limited and Timbertoes Limited, which were allegedly involved in the acquisition of the hotel and Edward Keena, who, the court heard, is Anton Treacy’s brother-in-law and a registered half-owner of the Golf Hotel.

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Yvonne Treacy claims that without her consent or permission around €1m of Combray’s money was used to pay for and refurbish the Ballybunion hotel.

The court heard that she has been informed that the money from Combray will be repaid.

Ms Treacy claims that Combray has a strong beneficial claim to ownership of 50% of the Golf Hotel and the profits it generates.

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It’s also claimed that the Ballybunion hotel is allegedly in receipt of a very significant income and profits, estimated to be over €490,000 per month, under the Housing Standard Accommodation Recognition Payment Scheme for housing refugees from Ukraine.

Ms Treacy claims she initiated proceedings because of an alleged failure by her husband to provide her solicitor with certain undertakings.

Mr Justice Brian O’Moore, on an ex-parte basis, granted Ms Treacy permission to serve short notice of her application to be allowed bring proceedings on behalf of Combray.

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The matter will return before the court later this month.

 

 

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