The High Court has put a 14-day stay on an order requiring Dublin Waterworld Ltd (DWL) to hand over the €62 million National Aquatic Centre to Campus and Stadium Ireland Development Ltd (CSID).
It has also directed DWL to pay most of the legal costs, which could be more than €2 million, of the action to recover possession of the centre.
DWL has appealed to the Supreme Court against the High Court order directing it to hand over possession of the centre next Friday to CSID, the State company that owns the centre.
Mr Hugh O'Neill SC, for DWL, asked Mr Justice Paul Gilligan today to grant a stay on that order for possesison pending the outcome of the Supreme Court appeal.
Without a stay, the appeal was effectively pointless as DWL would already have surrendered possession on Friday, counsel said. Undertakings by DWL to continue operating the centre, not to remove any plant or equipment from the centre and to retain membership and other records relevant to the centre are to continue, the judge directed.
CSID had brought the action against DWL, a shelf company with no assets and registered offices at Ballyvard, Tralee, alleging several breaches of the lease for operating the centre.
In a reserved judgment last month, Mr Justice Gilligan ruled that CSID was entitled to an order for possession of the NAC because of "wilful" breaches of the lease both by DWL and Limerick businessman Pat Mulcair, including failure to pay more than €11 million due in rent and VAT.
Because of those breaches and the breakdown of trust between DWL and CSID, the judge declared that the 30-year lease, granted to DWL by CSID in controversial circumstances only three years ago, is forfeit.
He noted CSID had said it has "contingency plans" for the centre in the event of an order for possession being made.