herald

Wednesday 19 September 2018

Gaybo and his family settle €1.2m loan dispute with financial fund

Broadcaster Gay Byrne and his wife Kathleen Watkins. Photo: David Conachy
Broadcaster Gay Byrne and his wife Kathleen Watkins. Photo: David Conachy

A dispute between a financial fund and a partnership comprising 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 Mr Byrne and his wife, Kathleen Watkins, of Shrewsbury Square, Sandymount Avenue, Dublin 4, and their daughters, Susan O'Byrne, of Onslow, The Baily Howth, Co Dublin, and Crona Byrne, of Tinerana, Raheenmore, 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.

Mediation

The dispute went to mediation, and yesterday the judge was told the matter had been resolved and could be struck out. No details of any settlement were given.

The court was previously told the loan was advanced to the partnership for a period of six years and expired in 2013.

In November 2015, the fund bought the loan from BOSI.

Feniton claimed the monies borrowed were not repaid and made a demand for payment of €1.2m last April.

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

Promoted articles

Entertainment News