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17/02/2010
Property Firm Wins Deposit Case
The Belfast High Court has dismissed a case taken against a property company by a buyer seeking to reclaim the deposit he had put down on an apartment.
The verdict came down on the side of Big Picture Developments, the company behind the Bakery apartments on the Ormeau road in the south of the city.
The plaintiff, Stephen McKenna, now has six weeks to pay the £391,000 balance on his purchase in full.
A spokesman for Big Picture Developments - whose partners include Policing Board chairman Barry Gilligan - said: "We continue to be pleased with the progress being made in buyers fulfilling their contractual obligations for apartments at the Ormeau Bakery."
The company has issued dozens of writs against clients who booked flats at the luxury development last year, only to attempt to back out of the contract following the plunge in the property market.
Another three such cases brought by the company were also resolved at the High Court.
(NS/GK)
The verdict came down on the side of Big Picture Developments, the company behind the Bakery apartments on the Ormeau road in the south of the city.
The plaintiff, Stephen McKenna, now has six weeks to pay the £391,000 balance on his purchase in full.
A spokesman for Big Picture Developments - whose partners include Policing Board chairman Barry Gilligan - said: "We continue to be pleased with the progress being made in buyers fulfilling their contractual obligations for apartments at the Ormeau Bakery."
The company has issued dozens of writs against clients who booked flats at the luxury development last year, only to attempt to back out of the contract following the plunge in the property market.
Another three such cases brought by the company were also resolved at the High Court.
(NS/GK)
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