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Judge rejects ‘Alice in Wonderland’ claims by Dunnes over Point Village settlement

Judge rejects ‘Alice in Wonderland’ claims by Dunnes over Point Village settlement

Dunnes Stores loses appeal over Ђ15.5m payment to receivers associated with Point Village development

The receivers had claimed the Ђ15.5 million was due under a 2010 settlement between Dunnes and Point Village Development Ltd

Dunnes Stores has lost its appeal over orders requiring it to pay Ђ15.5 million to your receivers of a business of businessman Harry Crosbie in order to adhere to agreed regards to settlement of a legal dispute concerning the planned Point Village development.

Dunnes was effectively asking the Court of Appeal to grant an “Alice in Wonderland” license to it to interpret words when you look at the settlement as Dunnes wishes “depending from the result they sought to achieve”, Ms Justice Mбire Whelan said.

The receivers had claimed the Ђ15.5 million was due under a 2010 settlement between Dunnes and Point Village Development Ltd (PVD) negotiated by PVD chairman Mr Crosbie before NAMA appointed receivers that are joint the organization in 2013 by foot of a Ђ450 million debt.

PVD brought proceedings during 2009 alleging Dunnes had did not honour a 2008 agreement reached as section of a deal under which Dunnes was to get to be the main, or anchor tenant, at the heart.

Dunnes denied the claims and counterclaimed PVD had not complied with a few of their obligations beneath the agreement.

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