The High Court has heard the resolution of a dispute between a man who owns two prestigious Georgian-style office buildings in Dublin’s Stephens Green and his father-in-law over real estate refinancing loans.
Monaghan-born businessman Leo Mohan filed an injunction in 2019 to prevent attempts to transfer properties numbered 92 and 93 on the north side of Stevens Green as a trustee over an alleged default on loans of 13 million euros.
He filed a lawsuit against his father-in-law Paul Anderson. founder of the Anderson family, which owns the cinema, and director of Panoramic Cinemas Ireland.
He alleged that Mr Anderson had violated the agreement by selling outstanding loans to Panoramic real estate in November 2018. He said he made an effort to sell the property and received two firm bids for € 22 million and € 25 million.
In an injunction litigation against Anderson and a refinancing company called Dunbridge, as well as Panoramic, Mohan argued that there was a conspiracy to prevent him from raising other funds to pay off outstanding loans.
Mr Anderson said the proceedings were false and represented an unlawful attempt by Mr Mohan to violate Panoramic’s contractual rights.
Judge Brian O’Moore was told on Tuesday that the parties had settled their differences and the dispute was resolved on a confidential basis.
Rossa Fanning SC, defending the interests of the defendants, said that as part of the settlement it was agreed that the legal ban on the sale / management of real estate (a lis pendens) could be lifted and the buildings could now be sold.
According to him, all previous applications for payment of the dispute should be canceled.
The case could also be postponed altogether with a right to reconsider, the lawyer added. Judge O’Moore congratulated the parties on reaching a settlement.