Courts / Dublin / Report
Settlement between developer and fund over Dublin quays property broke down, court told
Summary
The High Court heard that a settlement between developer Pat Ryan and the financial fund Dengrove Designated Activity Company over a €12m loan for a commercial property site on Dublin's south city quays has collapsed. The dispute centres on whether Ryan can redeem the mortgage on the property, valued at about €22m, or whether redemption is contingent on all sums due to Dengrove being discharged by Ryan and his partners. Dengrove claims the borrowings are subject to an 'all sums due' mortgage and that the partnerships owe the fund approximately €430m. Ryan has amended his claim and applied for discovery of material he says is relevant to his case, alleging that Dengrove and its agents inflated indebtedness and altered interest rates to avoid tax. Dengrove denies these allegations and argues the discovery request is a fishing expedition that would breach confidentiality.
Who, what, where, when and why
What: Report matter: Settlement between developer and fund over Dublin quays property broke down, court told. Procedural stage: charge_or_pretrial
When:
- 2022-01-21 Publication
Case subjects
Applicant
Places mentioned
Topics
Related court reports
- Man charged with having 56k child abuse images and videos remanded on bail
- Ex-Dáil hopeful's allegations against former employer 'complete fantasy', WRC told
- Mater must pay €10k to worker who said he was wrongly accused of abusing patient
- 'I think we know I won't be getting bail' - Daniel Kinahan charged with directing criminal organisation
- Letting agent who claimed alleged domestic violence victim abandoned tenancy by fleeing to refuge must pay €14.7k
- 77-year-old with 470 convictions told Luas staff to 'f**k off'
If a fact, identity, locality or legal outcome needs review, email the newsroom with this report's details prefilled.
Email a correction request