The deveoper's plan was to build a hotel and sports museum in Sandymount. But last August alternative lender Lotus Decalia appointed a receiver over property assets at the site. Now the receiver is seeking an order for vacant possession of a premises.
The property developer claims a neighbour to the proposed housing project in Ashford, Co Wicklow has “no material or genuine planning concerns” but has threatened to frustrate the development if her demands for money are not met.
Developer Greg Kavanagh had hoped to build a new 300-bed hotel in Dublin 4 near the Aviva stadium. Now Lotus Investments has put part of the site into receivership. Kavanagh retains control of other parts and says he welcomes the appointment of a receiver.
Alternative lender Lotus Investment Group recently appointed a receiver over company assets in South Dublin controlled by Greg Kavanagh. Now it has filed a High Court action against the property developer and his brother's business interests.
Hugh and Greg Kavanagh were so close they were called Siamese twins. But the relationship fractured. Now, as they prepare to settle their legal dispute, we examine the bitter row that almost tore a property empire apart.
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