THE operators of Limerick’s Hi-Way Bar and Restaurant have been allowed continue trading after a judge refused an application by bank receivers KPMG to have the property vacated for sale because of a €78,000 debt.
Details of the case were heard before Limerick Civil Circuit Court where Pat Barriscale BL, counsel for for the bar operators, Turn Key Outlet Ltd, objected to KPMG’s application to send the case to the High Court finalisation.
Counsel for KPMG Emer Meeneghan BL said they were owed €78,000 and wanted possession of the property to sell it.
In 2006, the 6,815sq property was sold for €3 million and in 2010, Turn Key took over the running of the premises after the previous owners fell into financial difficulty. Receivers were appointed by the bank and KPMG took ownership of the building, while Turn Key renewed the liquor licence.
The Turn Key directors agreed to pay €4,666 a month in rent but this was later reduced to €2,500 to help the business recover. The rent was paid every month and the business was trading continuously.
In 2013, the property was put up for sale for €875,000 by DTZ Sherry Fitzgerald.
At last Tuesday’s sitting of the Circuit Court,Turn Key objected to the case being sent to the High Court by County Registrar Pat Wallace last year.
Proceedings were issued by the receiver in 2015 but there was an error in the draft papers regarding the rateable valuation of the property.
Ms Meeneghan admitted that this was an oversight and accepted the court did not have the jurisdiction to deal with the case.
Judge Keys said that the bar/restaurant operators had to succeed in the case and that lawyers for the receiver should have issued the proceedings in the correct court.
The matter was struck out allowing Turn Key Outlet to continue trading.
As members of the Anti Eviction task force who were in the public gallery applauded the ruling, Judge Keys said “there is no need for that”.
Addressing counsel for KPMG, Judge Keys said “if you want to come in to this court you have to understand the jurisdiction limits and therefore I am refusing to transfer this case to the High Court and striking the proceedings out.
The Hi-Way was opened in 1970 by the Campbell family who developed the site over a number of years. It became popular destination for politicians from Kerry and Cork en route from Leinster House, as it remained open until after 3am.
