Indo - Pair must pay €16.5m for site valued at €4.5m

Pair must pay €16.5m for site valued at €4.5m
Thursday June 25 2009

I wonder will this have further repercussions in terms of people who are trying to get out of contracts after buying off the plans a few years back after some of the comments from the judge.


I think this decision and similar decisions are incorrect on a point of princple and the correct decision should be in law to order judgement of €12m, or more specifically the property should have been sold as soon as the contract was repudiated and the difference between the 16.5m and whatever it sells for is the correct order.

I think this principle will be applied to residential contracts and people will only be required to pay the loss between contract price and sale price.