A business partnership involving broadcaster Gay Byrne has settled its Commercial Court dispute against a financial fund over loan repayments in relation to an investment property worth an estimated €13.5m in central Dublin.
The Firstwood Partnership had brought proceedings against the Launceston Property Finance concerning a property containing a block of offices, retail units and car park at St Andrew’s Lane in Dublin 2.
The fund in 2014 acquired a loan which the Partnership had taken out in 2000 with Anglo Irish Bank to acquire the property. The loan is due to expire in 2020.
The court had previously heard the property had been valued at €13.55m in 2014 with approximately €6.7m outstanding on the loan.
Read more at source: BreakingNews.ie
