An agreement has been reached to resolve a High Court dispute over the Peter McVerry Trust’s alleged aborted purchase of a €300,000 greenfield site in Co Kerry.
A €90,000 sum that the financially troubled homelessness charity was directed to lodge in an escrow account in exchange for a pause to an earlier Circuit Court order can be returned, Ms Justice Niamh Hyland was told on Friday.
She had suspended the lower court’s order of last October that had required the trust to complete the Killarney town centre land sale within seven days.
She said the organisation “just about” met the “very low threshold” of presenting arguable legal grounds challenging Killarney Circuit Court.
Her stay on the sale order was to remain until the charity’s High Court appeal concluded.
She was told on Friday that the entire case has been settled.
Killarney-based Nocwerdna Limited secured the Circuit Court order for the sale of the Kerry site after alleging the Peter McVerry Trust breached a March 2023 written contract by failing to complete its purchase of the lands.
It was claimed the charity wanted to build a shelter facility for children and young people on the site.
The trust disputed the claims, and previously told the High Court there were conflicts of facts.
In a sworn statement, Elizabeth Pena, deputy chief executive of the charity, said the organisation found itself in short-term financial difficulty that was being actively managed.
The trust, which is one of the main homeless services providers in the country, is receiving a State bailout of up to €15 million after statutory inspectors were appointed to investigate its significant financial issues.
The charity informed the Department of Housing last July that it was facing serious cash flow pressures, leading to auditors from PwC conducting a financial and governance review.
