Latest news with #EliteGastrobarsLtd
Irish Independent
4 days ago
- Business
- Irish Independent
Court rejects tenant's claim landlord should have insured against arrears
Mr Justice Barry O'Donnell found the claim by Elite Gastrobars Ltd that the landlord's obligation to insure under the terms of the lease cannot be understood as extending to an obligation to provide cover against the type of business interruption caused by the Covid restrictions. The obligation extended to the specified insured risks and that definition does not refer expressly or by implication to losses caused by public-health restrictions, he said. In those circumstances, the judge said Elite failed to meet the threshold that would persuade the court not to enter summary judgment against the company over rent arrears and refer the matter to full hearing. He therefore made an order granting judgment for €276,041 in favour of the shopping centre landlord BVK Elektra 2 Liffey Phase 1 ICAV. The case was also against Bunker Estates Ltd, which was the guarantor in the lease for Elite. The judge said since the case was initiated against Elite, Bunker has been dissolved and the application for summary judge against Bunker was adjourned generally. The judge said while Elite had also raised arguments about the lack of a clear explanation in the accounts for the rent arrears claim and the status of BVK, the main issue was business interruption insurance. The judge was satisfied the figures and explanations provided were accurate and reliable Elite said the arrears were related to trading difficulties during Covid and the landlord had not activated a rent review clause in the lease, which would give rise to an adjustment in the figures claimed. Mr Justice O'Donnell was satisfied that the figures and explanations provided were accurate and reliable. The defendant accepted that it had not paid the rent and other charges for periods, he said. Its primary argument was that this was related to the trading difficulties during the period of Covid restrictions and was also excusable for reasons to do with the business interruption clauses in the lease. The rent review issue was addressed by the parties and an agreed position was achieved with a consequent adjustment to the figure claimed, the judge said. He granted judgment and adjourned the case to October for final orders and cost matters.
Irish Independent
4 days ago
- Business
- Irish Independent
Liffey Valley Shopping Centre landlord not required to have Covid cover for restaurant tenant, High Court rules
The High Court has rejected a claim by a company which rented a restaurant unit in the Liffey Valley Shopping Centre in Dublin that the landlord seeking judgment for some €276,000 for rent arrears should have had business interruption insurance in place for closures caused by the Covid pandemic restrictions. Mr Justice Barry O'Donnell found the claim by Elite Gastrobars Ltd that the landlord's obligation to insure under the terms of the lease cannot be understood as extending to an obligation to provide cover against the type of business interruption caused by the Covid restrictions.
