Courts / Dublin / Report

Receiver gets possession order for properties hosting elite D4 cosmetic clinic

Date
2016-04-15

Stage
Hearing Or Decision

Primary locality
Dublin

County
Dublin

Summary

In a 2016 ruling, Mr Justice Paul Gilligan granted a receiver, Mr Kieran Wallace, possession of two apartments at 6 and 7 Merrion Court, Ailesbury Road, Ballsbridge, which host a cosmetic clinic founded by Dr Patrick Treacy. The judge, noting that the clinic's elite clientele operates from the apartments, imposed an 18‑week stay on the order pending a full hearing. Wallace, appointed by KBC Bank after Dr Treacy allegedly failed to repay about €1.3 million owed to the bank, sought the injunction to sell or lease the properties to reduce the debt. Dr Treacy, represented by Joseph Jackson, argued that the loan was not due until March 2017 and that the receiver's claim was unsupported. The court accepted that Wallace was entitled to possession, based on evidence that Dr Treacy had not complied with agreed monthly interest repayments, and the judge expressed hope for an agreement between the parties.