Sunday, 2 August 2015
Last updated 1 day ago
Jul 24 2012 | 11:16am ET
A defunct investment firm has sued Hedgeserv for almost €2 million in back rent.
At issue is Hedgeserv's space in the center of Dublin, Ireland. The firm rented two floors at 75 St. Stephen's Green in 2008 with a 25-year lease, agreeing to pay €2.2 million per year.
Late last year, however, the building's owner Shelbourne Development (Europe) defaulted on its debt and went into receivership. And now, the receiver, Grant Thornton's Michael McAteer, has had the €1.9 million rent dispute moved to the Commercial Court.
A hearing is set for Oct. 17.
Hedgeserv founder James Kelly reportedly acted as a guarantor of the lease.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…