A public house which had been in the possession of bank-appointed receivers has been re-occupied and re-opened by its former owners, the High Court has heard.

Fallons in Newtowncashel, Co Longford had been closed since April after the former owners Joseph and Mary Fallon left after the joint receivers obtained an order for possession of the property.

At the High Court today, lawyers for the joint receivers, Kieran Wallace and Andrew O’Leary, said the Fallons have forcibly and unlawfully taken up possession of the property.

The President of the High Court Mr Justice Nicholas Kearns was informed by Stephen Byrne, for the receivers, that his clients have serious concerns after discovering the Fallons and others had re-entered the pub on August 1st last.

The receivers were also particularly concerned to learn the Fallons had also recommenced trading. The Fallons had refused to leave the property and their occupation is unlawful, counsel added.

The receivers are seeking various interim injunctions, on an ex-parte basis, against the Fallons, counsel said. These include orders restraining the Fallons, and their servants and agents, from interfering with the receivership. They are also seeking orders for vacant possession of the property, and that no other party make any attempt to sell the property.

Mr Justice Kearns said he was not prepared to grant orders against the Fallons at this stage. The justice of the situation merited the application being heard in the presence of the Fallons.

He adjourned the matter to Wednesday.

Mr Wallace and Mr O’Leary were appointed as receivers over the property in October 2011, which comprises of a pub and four townhouses, by ACC bank after the Fallons failed to repay loans advanced to them in 2006 and 2007. While some payments have been made, the bank says about €1m remains outstanding.

The Fallons, with an address at Lisrevagh, Lanesborough, Co Longford, were allowed to continue to run the pub following the joint receivers’ appointment. Difficulties then arose between the parties, and the Fallons vacated the premises in April of this year.

The property was listed for auction in Dublin’s Shelbourne Hotel in early July. The sale did not go ahead after the auction was disrupted by members of the public.