The Commercial Court has heard details of what was described as 'a very complex, tortuous transaction' at the heart of a row between estate agents CBRE Richard Ellis and property developer Sean Dunne.
Sean O'Brien, head of the investment section with CBRE Richard Ellis, completed his direct evidence this morning and has begun cross-examination by counsel for Sean Dunne, Donal O'Donnell.
The court, sitting under Ms Justice Finlay Geoghegan, heard detailed evidence of what Mr O'Brien described as 'a very complex, torturous transaction' in which Irish Life sold its Hume House property in Ballsbridge to Mr Dunne for €130m.
The deal also involved the swap of another property owned by Mr Dunne on Sir John Rogerson's Quay, as well as a cash amount.
CBRE Richard Ellis is suing Mr Dunne for non-payment of fees of €1.5m in relation to the transaction.
Mr Dunne is counter-suing CBRE for €35m for alleged breach of their professional duty.
Mr Dunne was not in court today. Yesterday, the court heard from his GP that he was suffering from flu.
The case is continuing at the Commercial Court.
