A COUNTY WATERFORD medical consultant who lost a Ferrari in a deal for a dream McLaren sports car he never received has been paid €55,000 by the dealer he sued, the High Court was told today.
Barrister Shaun Boylan told Justice Michael Moriarty that the payment had been made to solicitors for Dr Eddie O’Donnell who traded his Ferrari California with Ocean Vehicle Trading Ltd and its director Oisin Legaspi.
The trade was made on the basis that the Ferrari would part-finance the purchase of O’Donnell’s dream car, a 2012 McLaren MP4 12C which he said he never received.
O’Donnell earlier this month obtained temporary freezing orders against both defendants preventing them from reducing their assets below a value of €150,000.
When the case returned before the High Court today barrister Yvonne O’Gara, who appeared with Keans Solicitors, consented to an adjournment for mention to 12 October, following payment of the €55,000 and agreement to the provision of documents regarding the Ferrari.
Boylan said there was consent between the parties for continuation of the Mareva injunction restraining reduction of the defendants’ assets below €150,000 until a further court order.
A Mareva injunction is a court order freezing a debtor’s assets, often to prevent them being taken abroad.
Legaspi
O’Donnell, of The Fairways, Faithlegg, Co Waterford, a consultant obstetrician at Waterford Regional Hospital, claimed he first came into contact in 2013 with Legaspi, who had then been working for another company, when he first purchased the Ferrari.
He claimed that after than he had been regularly contacted by Legaspi asking if he wanted to upgrade the Ferrari and in June last he made an arrangement to trade the car against the McLaren.
O’Donnell claimed he had been told by Legaspi in August that the McLaren was on its way to Ireland but the car had never been delivered and he became concerned following an exchange of texts and calls with Legaspi.
Despite having been assured the McLaren was en route he had eventually asked Legaspi for either the return of the Ferrari, delivery of the McLaren or his money back.
He later discovered the Ferrari had been sold on for €137,300 through a company that had been dissolved in March.
He had received assurances from Legaspi that the money would be refunded.
When obtaining the injunction O’Donnell told the court that in spite of numerous assurances from Legaspi no refund had materialised. He later discovered all cars for sale on Ocean Vehicle Trading’s website had been removed.
Legal costs in the case have been reserved to the next hearing in the new law term.
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