PEOPLE WHO bought expensive apartments in the North and then found themselves unable to go through with the deal after being made redundant in the recession were given a ray of hope yesterday.
In the High Court in Belfast Mr Justice Deeny refused to grant an order forcing a man to complete a contract to buy a £264,500 (€321,350) apartment in the Titanic Quarter at the city’s Abercorn residential complex.
The judge held that Neil Rowe, from east Belfast, had a clearly arguable case that it was impossible for him to complete the contract as he had lost his job as a building surveyor and had no significant asset.
Mr Rowe’s lawyers had advanced the novel argument of “impecuniosity” – no money – in the action brought against him by Titanic Quarter Ltd, owned by the Dublin-based property company Harcourt Developments Ltd.