Jackie Lavin is suing her long-time partner Bill Cullen and his company Glencullen Properties over an alleged failure to complete a €1 million deal for the sale of Killegy House in Co Kerry.
The pair are best known for appearing on TV3’s The Apprentice, but now it looks like Jackie and Bill are far from partners as they are embroiled in a battle over Killegy House.
According to the Irish Independent, Jackie, who claims she has been a longtime resident of the house and considers it as her home, has brought proceedings against Glencullen Properties – and Bill is the firm’s sole shareholder and a director.
Ulster Bank created a charge over Glencullen’s assets in 1999, including Killegy House, and yesterday the High Court was told that Ulster Bank appointed accountancy firm Kavanagh Fennell as receivers over Glencullen Properties’ assets, including Killegy House, in 2012.
Conflict: Jackie is suing long-term partner Bill | VIPIRELAND.COM
Jackie claims that back in 2009, the company sought additional credit facilities from the bank to allow it continue to trade, however, she claims that the bank was unwilling to do this unless €1m was invested in the company.
After selling a property they had in Florida for $7.25m, Jackie claims that she agreed to advance Bill €1million, so he could pay down Glencullen’s liabilities.
But, she claims that a part of the arrangement was that Killegy House would be sold to her. However, after she paid over €757,000 to the company, they have failed to complete the sale of the property to her.
Jackie has also claimed that she has suffered loss and damage, as after Glencullen Properties was placed in receivership, an order was obtained from the Residential Tenancies Board requiring her to leave Killegy House.
The businesswoman now seeks an order for the specific performance directing the sale of Killegy House to her, and an order prohibiting the defendants from entering into any contract for sale of the property other than with her.
Glencullen Properties has denied the claims and insisted that Jackie is not entitled to any of the orders she seeks. Meanwhile, the court heard that Bill has not delivered a defence to the action.
History: Jackie and Bill have been in business together for years | VIPIRELAND.COM
The company accepted that Jackie agreed to advance Bill €1m, but, they have denied that the monies were advanced as part of an agreement to sell Killegy House to Jackie.
They also pointed out that Jackie has failed to comply with the order it obtained requiring her to leave the property, and it has brought enforcement proceedings before the Circuit Court.
It also added that after advancing the loan to Bill in 2010, Jackie signed a statutory declaration that she did not hold any interest right or title to any assets of Glencullen Properties, however, the company accepts that by an oversight Killegy House was not listed in the documentation the declaration refers to.
Jackie confirmed that she did sign a waiver, but claims that she did so because the bank would have cut Glencullen off from accessing further credit.
The case was adjourned yesterday, and will be mentioned before the court at the end of April.
