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

Dunnes Stores loses appeal over Ђ15.5m payment to receivers relating to 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 for Ђ15.5 million towards the receivers of an organization of businessman Harry Crosbie so as to adhere to agreed terms of 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 into the settlement as Dunnes wishes “depending regarding 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 business in 2013 on foot of a Ђ450 million debt.

PVD brought proceedings in ’09 alleging Dunnes had did not honour a 2008 agreement reached as part of a deal under which Dunnes would be to become the main, or anchor tenant, in the centre.

Dunnes denied the claims and counterclaimed PVD had not complied with some of its obligations underneath the agreement.

The outcome settled at the High Court this year but disputes that are further as well as the sides later negotiated supplemental terms of settlement. Подробнее →