High Court grants €2.37m freezing order

The High Court has granted a Mareva injunction freezing assets valued at €2.37 million belonging to a County Galway man, following allegations that he provided false evidence during examination before the Master of the High Court. AIB Mortgage Bank obtained the order against Joe McCaul of Roveagh Kilcolgan and two others. The bank claims Mr McCaul denied involvement in collecting rental income of approximately one million euros from properties between January 2012 and July 2015, stating instead that agents of a private trust handled such matters. However, AIB contends this contradicts documentary evidence, including rent receipts signed by Mr McCaul and records of agreed rent reductions. Mr McCaul owns a shopping centre in Clarinbridge and properties across Galway and County Cavan. A receiver was appointed over the properties following a judgment of €2.37 million obtained in 2015. Similar asset-freezing orders were also granted against Mr McCaul's wife and another individual. Mr Justice Paul Gilligan adjourned the matter for one week.