Investment vehicle sues over financing plan for apartment scheme in Leopardstown

A corporate investment vehicle set up to acquire a residential site in south Dublin is suing a company over alleged misrepresentation as to projected returns and non-disclosure of an aggregate promoter fee. Merleview Ltd has brought Commercial Court proceedings against Burton Carman Ltd, a special purpose vehicle set up to acquire, hold and develop a property at Leopardstown Park with a view, it is claimed, to develop around 145 build-to-rent apartments. It is also suing Elkstone Capital Partners Ltd, which was the promoter and manager of the investment in Burton Carman.