Dispute relates to properties in Dublin 2 via IrishTimesBiz
The High Court has heard that the settlement of a dispute between developer Pat Ryan and a financial fund over borrowings for a commercial site on Dublin’s south city quays has broken down.
The loans were advanced by the now defunct Anglo Irish Bank, before being acquired by financial fund Dengrove Designated Activity Company in 2017. The fund further claims that the various partners in the partnerships owe it some €430 million in outstanding borrowings. Mr Justice Twomey said Mr Ryan’s application arises out of certain emails that had come to Mr Ryan’s attention allegedly sent by Dengrove and its agents, and some of the plaintiff’s partners.
Discovery had been ordered at an early stage in the proceedings, and any further order would breach the rights of third parties, who are not involved in the action.
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