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Signed a contract

  • 02-11-2013 11:14am
    #1
    littlelulu
    Registered Users Posts: 267 ✭✭


    Hi, we signed a contract and paid a deposit to hold our wedding in a hotel. We found out afterwards in the PUB that the hotel is in receivership and the hotel never told us when signing the contract. They have since confirmed that this is true. They have assured us that everything will be ok but we are extremely annoyed that they never even mentioned it to us when signing the contract or handing over the deposit. We were so caught up in the excitement at the time that this possibility never even entered our minds.

    So out of curiosity:

    Should they have informed us when signing the contract?

    Is there anything we can do now other than hope for the best? The contract says that another portion of the sum be paid before the day. Are we within our rights to hold off on the payment until after the day? We have already paid a deposit.

    Is there any point making a complaint?

    Any other advice?

    Thanks :)


Comments

  • #2
    Michael D Not Higgins
    Registered Users, Registered Users 2 Posts: 7,223 ✭✭✭Michael D Not Higgins


    Maybe ring up the hotel and have a word with whoever you dealt with previously. There are a number of outcomes depending on the hotel's financial situation. They could be solvent right now and you have nothing to worry about.


  • #3
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,441 ✭✭✭✭Marcusm


    Section 317 companies Act 1963 may be applicable

    317.—(1) Where a receiver of the property of a company has been appointed, every invoice, order for goods or business letter issued by or on behalf of the company or the receiver or the liquidator of the company, being a document on or in which the name of the company appears, shall contain a statement that a receiver has been appointed.


    (2) If default is made in complying with the requirements of this section, the company and any of the following persons who knowingly and wilfully authorises or permits the default, namely, any officer of the company, any liquidator of the company and any receiver, shall be liable to a fine of £20.

    The fine etc has been updated albeit that the rendering of the law on irishstatutebook.ie has not.


  • #4
    Littlelulu13
    Registered Users Posts: 66 ✭✭Littlelulu13


    Thanks :)


  • #5
    myshirt
    Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    OP.

    The hotel will honour the contract. If not, you will get your money back. Though I would believe they will honour it.

    If you had signed before the receiver was appointed, that is a different scenario.

    It's worthy of note once more for the rest of us, the majority of hotels in this country are still encumbered by loans they can't support. Either directly, or through tax consortiums.

    Forget deals that are too generous. Pay properly for your wedding.

    Extensions, suites, and hotels themselves were built because of the availability of capital allowances, not because, they'd be good businesses.

    Gradually enough now we'll be coming to the end of the tax life and more receiverships will come on stream as buyback agreements default. BOSI & Certus ready and waiting.


  • #6
    January
    Closed Accounts Posts: 23,862 ✭✭✭✭January


    myshirt wrote: »
    OP.

    The hotel will honour the contract. If not, you will get your money back. Though I would believe they will honour it.

    If you had signed before the receiver was appointed, that is a different scenario.

    It's worthy of note once more for the rest of us, the majority of hotels in this country are still encumbered by loans they can't support. Either directly, or through tax consortiums.

    Forget deals that are too generous. Pay properly for your wedding.

    Extensions, suites, and hotels themselves were built because of the availability of capital allowances, not because, they'd be good businesses.

    Gradually enough now we'll be coming to the end of the tax life and more receiverships will come on stream as buyback agreements default. BOSI & Certus ready and waiting.

    That's not really a help though if the hotel goes out of business the week or even the day before the wedding.

    We were going to go with a hotel that was in receivership but the best they could guarantee us was a signed letter from the owner stating that they wouldn't go out of business, which is not much help at all.

    Be aware that you will not be able to claim on wedding insurance if the hotel was in receivership before contracts were signed.


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  • #7
    myshirt
    Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    January wrote: »

    Be aware that you will not be able to claim on wedding insurance if the hotel was in receivership before contracts were signed.

    True also.

    A receiver will generally trade a hotel asset for some time, try restructure it, put some manners on the affair, whip it into shape for a buyer hopefully.

    It would be unethical to take on weddings during a receivership if you can't follow through. They don't do it from what I can see. Even furthermore, take the Ballykisteen Hotel in Limerick recently, the receiver there even went as far as ensuring a pre receivership booking went ahead.

    I remember the Castletroy Park when that nearly went, one couple I knew of were given the two fingers.

    My tuppence worth, engage with the receivers office for comfort.


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