The Irish Coursing Club (ICC) has been ordered to pay €640,000 in damages to a private firm and could face further costs after a court case relating to a disputed land deal next to its grounds.
Mr Justice Frank Clarke announced the verdict at the commercial court yesterday and is due to provide a written verdict on the case and a relating issue shortly, as part of this long-standing case taken by the development company Greenband Investments.
This move potentially places a question mark over the financial stability of the Irish Coursing Club, with trustees of the group stating substantial costs arising from this case could have “a major effect on the club“. The €640,000 damages is only a fraction of the original €5.9 million claim made, however a decision on further costs to be awarded will not be made until another hearing planned for March 30th.
The case, which was originally taken against the Irish Coursing Club in June 2008, relates to the coursing organisation’s interest in land along side its Powerstown Park stadium premises at Davis Road, in Clonmel, Co Tipperary. Greenband Investments sued the ICC to compel it to complete the sale of part of the lane way after claiming its €31m retail development which includes a Marks and Spencer store, would be jeopardised if this did not take place.
Greenband Investments also claimed it made a written agreement with the ICC trustees, in March 2008, to buy the lands for a sum of €100,000 and had paid a deposit of €10,000. Greenband Investments claimed the ICC was fully aware, at all times, that the purchase of the lands was part of a larger scheme of development by the private firm.
It is understood that legal costs in this case have yet to be decided.