Dun Laoghaire-Rathdown County Council has gone to the High Court to try to protect a €57m investment in a joint venture with a number of companies owned by troubled property developer Liam Carroll.
In 1997 the Council entered a joint venture with Mr Carroll to develop a science and technology park in Cherrywood in South Dublin.
Pauline Whalley, SC for the council, said that under the agreement one-third of the benefit of the investment would accrue to the Council and two-thirds to the companies. But she said that in May this year the Council had discovered that Mr Carroll's companies had created loan charges on the lands without the council's consent, as was required by the joint venture agreement.
She also said that the companies had erected buildings on the site - mostly on the two-thirds owned by them - and were claiming that council had no beneficial interest in those buildings. The Council disputes this.
Ms Whalley said the Council had invested a lot of money in the venture and was obliged to protect public money. She said the eight companies involved in the joint venture were not affected by the ongoing examinership proceedings against Mr Carroll's Zoe Group, but they were part of his wider group of companies.
NIB court bid to recover €10m
National Irish Bank has gone to the Commercial Court to try to recover more than €10m from developer Paddy Kelly and two other businessmen. NIB applied to seek summary judgement orders for €8.5m against Mr Kelly, Niall McFadden and Paul Pardy, over personal guarantees given for an overdraft facility for Mr Kelly's company, RQB.
NIB is also seeking an order for £1m sterling over another loan to Mr Kelly. NIB is the latest bank to bring proceedings against Mr Kelly. So far judgement orders for €84m have been secured against him. Mr Justice Peter Kelly gave leave to NIB to seek summary judgement on August 12.