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Business partnership involving Gay Byrne settles dispute over Dublin property
Summary
A business partnership that includes broadcaster Gay Byrne has reached a settlement in its Commercial Court dispute with Launceston Property Finance over loan repayments on a central Dublin investment property. The partnership, known as Firstwood, had originally secured a loan from Anglo Irish Bank in 2000 to purchase a block of offices, retail units and a car park at St Andrew's Lane, Dublin 2. In 2014 the fund acquired the loan, which was due to expire in 2020, and in 2016 issued a demand for full repayment of the €6.7 million outstanding balance, appointing a receiver and threatening that failure to remit rental income within 28 days would constitute a default. Firstwood contested the claim, arguing the loan was fully performing and that the fund had contrived a default. The court heard that the property was valued at €13.55 million in 2014.
Who, what, where, when and why
What: Report matter: Business partnership involving Gay Byrne settles dispute over Dublin property. Procedural stage: hearing_or_decision
When:
- September 2016 Hearing Or Sentence
- 2017-06-26 Publication
Case subjects
Defendant
Outcome: Rossa Fanning SC, for the partnership, told the court that matter had been settled and could be adjourned to a date in October for mention only.
Places mentioned
Topics
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