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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

Places mentioned

Topics

Stage Hearing Or Decision

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Read the original CNI report