The High Court has refused to set aside a €10.25 million VAT payment which an arbitrator had ruled was due by Dublin Waterworld Ltd to Campus and Stadium Ireland Development on a lease of the National Aquatic Centre.
In his judgment, Mr Justice Paul Gilligan said that arbitrator Dermot O'Brien had ruled last July that the VAT demand by CSID had been correctly charged.
CSID had sought an order to enforce the arbitration against Dublin Waterworld, which had contested the award.
Dublin Waterworld had sought to have the arbitrator's order set aside on the basis that he had misconducted himself. But Judge Gilligan held that no basis had been laid out to set aside the award of the arbitrator.
The dispute relating to the VAT payment had been referred to arbitration by Mr Justice Peter Kelly in the commercial court.
Campus and Stadium Ireland Development, which owns the National Aquatic Centre, is seeking forfeiture of the lease which it awarded to Dublin Waterworld in April 2003. These proceedings have been adjourned until 3 October.
