A BUSINESSMAN and his son are being sued for sums totalling more than €7.2 million arising from alleged agreements by them to buy 20 apartments in Dublin, secured on deposits amounting to €190,000.
The proceedings against businessman Cormac Dunne, a former solicitor, Latt, Cavan, Co Cavan, and his son Gavin, Lansdowne Manor, Swellan Lower, Co Cavan, were transferred to the Commercial Court yesterday by Mr Justice Peter Kelly.
The case has been brought by P Elliott Company Ltd, Century Business Park, Dublin Road, Co Cavan, and its directors, Mark, Darragh and Noel Elliott jnr.
Paul Sreenan, for Elliotts, said the plaintiffs had entered into contracts in January 2007 with Cormac Dunne and Gavin Dunne for the purchase by both men of 10 apartments each at a development at Carrington Park, Northwood, Santry, Dublin. Both men were to each pay sums of €3.6 million for the apartments. The court also heard that Cormac Dunne had paid a deposit of €100,000 while his son paid €90,000. Mr Sreenan said Cormac Dunne indicated in January 2008 he and his son were not completing the purchase.
It is claimed, at a later meeting between Cormac Dunne and Mark Elliott at the Berkeley Court Hotel in Dublin in July 2008, Cormac Dunne agreed, on behalf of himself and his son, to unconditionally close the sale of 12 of the 20 apartments within a reasonable time.
Solicitors for the defendants wrote on December 22nd, 2008, stating their clients were not required to complete the contract because they could not obtain the necessary finance.