Bank of Scotland seeks to examine trustees of Victory Christian Fellowship over their assets
High Court reserves judgement on proposal to examine church trustees’ alleged failure to comply with receivers
Aodhan O’Faolain, Irish Independent
THE High Court has reserved judgment on a bank’s application to question trustees of a church over their alleged failure to comply with receivers appointed over some of their properties.
Bank of Scotland (BOS) is seeking to examine the trustees of the Victory Christian Fellowship in Dublin.
The bank, and receivers appointed over certain church properties, want the trustees examined in court because of the their alleged on-going failure to provide it with details, including a statement of affairs, regarding the church’s assets and proposals to discharge the a debt of €18.7m
The application was opposed by the trustees who say all church activities ceased after the receivers took possession of their three premises in June of 2013.
Last year, Mr Justice Paul Gilligan ruled BOS was entitled to judgment against the Fellowship trustees’ Brendan Hade, the church’s senior pastor, his wife Shelia Hade, of Fountain Head, Rockbrook, Rathfarnham, Dublin, and Gerry Byrne of Woodstown, Knocklyon, Dublin.
The court also ruled BOS had valid security and was entitled to appoint receivers in May 2013 to the properties at Kilmacud House, Kilmacud Road, Upper Stillorgan; Westland Row, Dublin city centre; and at Firhouse Road, Tallaght. They were put up as security for monies advanced by BOS in 2007.
The church has appealed the High Court’s decision to the Supreme Court.
However BOS and the receivers say the appeal does not operate as a stay on the judgment.
Yesterday, receivers Paul MCann and Patrick Dillon, and BOS, sought orders from the High Court directing the Hades and Mr Byrne be questioned before the court in relation to the debt and about any assets they have an interest in.
Ms Justice Aileen Donnelly reserved her decision.