Wednesday 19 December 2018

Gay Byrne and family settle €1.2m financial dispute

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

Aodhan O'Faolain

A dispute between a financial fund and partnership comprised of broadcaster Gay Byrne, his wife and their two daughters has been settled.

The case was brought by Feniton Property Finance DAC which sought summary judgment of €1.2m against the Clonskeagh Partnership arising out of an alleged failure to repay a loan advanced more than a decade ago.  

The partnership is made up of Gay Byrne his wife Kathleen of Shrewsbury Square, Sandymount Avenue Dublin 4 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.

In 2015 the fund acquired a loan of €1m advanced to the partnership from Bank of Scotland (Ireland) in August 2007. The fund claimed the purpose of the loan was to fund an investment by the partnership in the Quinlan Private CERDII Fund.

The claim was admitted to the fast track commercial court list in November by Mr Justice Brian McGovern.

The dispute went to mediation, and on Friday the judge was informed the matter had resolved and could be struck out. No details of any settlement were given to the court.

Previously the Commercial was told the loan was advanced to the partnership for a period of six years duration, and expired in 2013.  In November 2015 the fund purchased the loan from BOSI.

In its proceedings Feniton claimed the monies borrowed were not repaid, and made a demand for payment of €1.2m in April 2017.

The fund claimed the demand was not satisfied which resulted in the dispute being admitted to the commercial court list.

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