Tuesday 23 October 2018

Fund seeks €1.2m judgment against Gay Byrne and family

Gay Byrne and Kathleen Watkins. Photo: David Conachy
Gay Byrne and Kathleen Watkins. Photo: David Conachy

Aodhan O'Faolain

A FUND is seeking a €1.2m judgment against a partnership comprising broadcaster Gay Byrne, his wife, and their two daughters, over alleged default on a loan, the Commercial Court heard.

The case has been brought by Feniton Property Finance DAC, which in 2015 acquired the August 2007 loan of €1m to the "Clonskeagh Partnership"  from Bank of Scotland Ireland (BoSI).

In a sworn statement, the fund said the loan was to be used to fund an investment by the partnership in the Quinlan Private CERDII Fund.

The partnership is made up of Mr Byrne and his wife Kathleen, of Shrewsbury Square, Sandymount Avenue, Dublin, and their daughters Susan O'Byrne, an office manager of Onslow, The Baily, Howth, Co Dublin, and Crona Byrne, an entrepreneur of Tinerana, Raheenmore, in Co Clare, 

The loan was for a period of six years duration, and expired in 2013. 

In November 2015 the fund purchased the loan from BoSI.

In its action against the partnership, the fund claims the monies borrowed were not repaid.

In April of this year the fund says it made a demand on the partnership for the full amount it claims is outstanding on the loan.

It claims the demand has not been satisfied and seeks judgment against the partnership of just over €1.226m

The case was admitted, on consent, to the fast track Commercial Court list by Mr Justice Brian McGovern on Monday.

The case returns in January. 

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