On November 7th, Mr Verschoor said, Mr O’Carroll informed UCM’s agent he no longer wished to proceed with the sale and there was an attempt to return the deposit that was refused.
UCM says it has spent some €166,000 on the spare parts and incurred some €74,000 in foreign exchange losses as a result of having to re-convert the US purchaser’s monies back to dollars when it became clear the money would have to be refunded. In legal correspondence, O’Carroll Haulage asserted payment for the crane was expected when the invoice was sent to UCM. Mr Verschoor disputes this and says UCM heard nothing from O’Carroll Haulage about not having received full payment.UCM is seeking an order from the court for specific performance of the agreement to sell the crane or damages in lieu of such performance.
On Monday, Mr Justice Denis McDonald admitted the case to the Commercial Court on the application of UCM. The judge was told O’Carroll Haulage was neutral on the admission application.