The Smiths claimed the €12.8 million valuation was affected by their claim to the covenant entitlement. On Friday, Mr Justice David Keane found no persons were entitled to the benefit of the covenant. The judge, outlining the history of the property, said in 1942, stockbroker Thomas Vincent Murphy acquired Priorsland House, a mansion which included stables and 16 acres. In 1947, Mr Murphy transferred 108 acres of the land to another stockbroker, John Hugh Wilson. Verbally agreedIn 1962, Mr Murphy and Mr Wilson agreed to a modification of the covenant to allow Mr Murphy build a house on part of the lands, the judge said.

Source: The Irish Times February 16, 2018 15:45 UTC