Dublin Waterworld Ltd is to hand over possession of the €62 million National Aquatic Centre on November 30th next to the State company which owns the facility, Campus Stadium Ireland Development Ltd (CSID), the Supreme Court was told yesterday.
Campus and Stadium Ireland had awarded the 30-year lease for operation of the centre to Dublin Waterworld in controversial circumstances just three years ago.
Each side is also to pay its own legal costs of the long court battle over the centre, which total costs are estimated at some €3 million.
On agreed terms, Dublin Waterworld yesterday withdrew its appeal against a High Court order made last April directing it to hand over possession of the centre to CSID after the court found Dublin Waterworld had breached the lease awarded to it for operation of the centre.
A stay, pending the outcome of the Supreme Court appeal, was placed on that possession order on terms including that Dublin Waterworld would continue to operate the centre and also would ensure the facility was properly maintained.
The terms of settlement of the dispute were outlined yesterday to the Supreme Court by Hugh O'Neill SC, for Dublin Waterworld. He said the parties had settled their differences and the appeal was not proceeding on agreed terms, including the handover of the centre on November 30th.
The High Court order requiring Dublin Waterworld to pay most of the costs of the long battle in that court was also to be vacated and Dublin Waterworld would continue to operate and maintain the facility until the handover date.
Mr Justice Adrian Hardiman, presiding at the three-judge Supreme Court, said the court was delighted the matter had been settled as this saved further expense.
Donagh Morgan of Campus and Stadium Ireland welcomed the end of the legal proceedings.
He said they had contingency plans to ensure the centre will continue to operate from the handover date and that the position of staff would be protected.
CSID had brought proceedings last year against Dublin Waterworld Ltd, a shelf company with no assets and registered offices at Ballyvard, Tralee, Co Kerry, alleging several breaches of the lease for operating the aquatic centre.
In a reserved judgment last April, Mr Justice Paul Gilligan ruled that Campus and Stadium Ireland was entitled to an order for possession of the National Aquatic Centre because of "wilful" breaches of the lease both by Dublin Waterworld Ltd and Limerick businessman Pat Mulcair, including failure to pay more than €11 million due in rent and VAT.
Because of those breaches and the breakdown of trust between Dublin Waterworld and Campus and Stadium Ireland, the judge declared that the 30-year lease, granted to Dublin Waterworld by Campus Stadium Ireland, is forfeit.
