Post by caspday on Sept 12, 2012 1:02:00 GMT -5
A businessman must pay a balance of more Official Steelers Jerseysthan ￡2 million to zyhaa912 complete on a record house purchase he claims to have pulled out of, the High Court has ruled.A judge ordered pecific performance against Nicholas McKenna after rejecting his account of the disputed deal reached at the height of Northern Ireland's property boom.Lord Justice Coghlin said: “To at least some extent, Mr McKenna was basically making it up as he went along.”The catering distribution boss offered to buy the south Belfast home of Jim McDonald for ￡3.5m in April 2007.
Bidding had spiralled up from the Authentic Steelers Jerseysoriginal ￡2.25m asking price in less than two weeks.The offer was expected to make the six-bedroom property at 50 Malone Park the costliest residence on the market at the time.But with the sale never completed, Mr McDonald issued proceedings to try to enforce the contract.Mr McKenna, head of the Ballymena-based Galgorm group, claimed he withdrew his offer once he realised the son he planned to buy the house for was not interested in it.
He said that ￡1.35m heBen Roethlisberger Jerseys gave Mr McDonald was a loan to help ensure the seller did not lose out on a bungalow he was planning to move to.He told the court he arranged for a contract to be drawn up as a security for the loan and claimed he never planned to complete on the Malone Park purchase.Mr McKenna stressed it was never his intention to flip', or sell the property on for profit.Despite investing in commercial property all his life, he said he had no experience of the domestic market.
Mr McDonald, a former independent assessor of military Mike Wallace Jerseyscomplaints, gave evidence that he put the house on the market to secure his family's future.He has known Mr McKenna for years, with both being members of the Knights of the Order of the Holy Sepulchre.Delivering judgment in the action, Lord Justice Coghlin pointed to a lack of credibility in Mr McKenna's testimony.Notes kept by an estate agent were consistent with the businessman reaching an agreement with Mr McDonald to buy the Malone Park property and sell it on, presumably in the hope of making a profit and avoiding stamp duty, the judge held.
Some of Mr McKenna's answers bordered on theTroy Polamalu Jerseys nonsensical,” he said.“Mr McKenna said that his solicitor son knew about his decision not to purchase the property and subsequently to lend the money to the plaintiff, but he was unable to explain why, in such circumstances, his son had sought a property certificate as well as raising inquiries about service charges and rights of way in correspondence headed ‘subject to contract' in relation to 50 Malone Park.”