A vulture fund has agreed not to take steps to repossess and sell a couple’s home after legal proceedings were issued alleging it acted in breach of Central Bank rules by appointing a receiver over the property.
Mars Capital Finance Ireland DAC, which denies the claims, gave undertakings to the High Court yesterday not to take any measures to repossess, market or sell the property.
In legal proceedings, Rodney and Viktoria Cadden, of Malahide, Co Dublin, are seeking a declaration that the appointment of receiver Mark Degnan over a house they own in Portmarnock, Co Dublin, is null and void.
They are also seeking an injunction stopping Mars or the receiver from repossessing and selling the house.
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