Ryan eviction case adjourned after ‘proposal’ by equity fund
AN APPEAL related to restaurateur Ronan Ryan’s attempts to prevent his home from being repossessed has been adjourned, following a ‘proposal’ by the private equity fund involved in the case.
The case was listed for mention before Judge Denis McDonald yesterday, but Keith Farry BL, counsel for Mr Ryan, said it could be put back for three weeks.
He said private equity fund Tanager had made a proposal, which Mr Ryan and his legal team
Did not disclose details
wanted to consider. He did not disclose the details of the proposal.
Tanager had wanted to repossess the four-bedroom home on Mount Prospect Avenue in Clontarf, north Dublin, due to a €1.25million debt on a home mortgage taken out by Mr Ryan in 2006.
It has appealed Circuit Court judge Verona Lambe’s refusal to set aside the protective certificate she had issued. She had said she didn’t have the jurisdiction to do that. The appeal will now be mentioned on November 4.
Tanager was thwarted by a judgment last week allowing personal insolvency proceedings to continue.
The court has heard that Mr Ryan, former operator of the Town Bar and Grill in Dublin, consented to the repossession in March. He shares the house with his wife, former Miss Ireland Pamela Flood, and their four young children.
But he then won ‘breathing space’ in the form of personal insolvency protection in June, which prevented Tanager from evicting the family from the house, which is now valued at €800,000. He did not mention the consent order to Judge Lambe before she granted the protection.
Judge Garrett Simons ruled on Monday of last week that Mr Ryan’s omission was ‘unsatisfactory’, and that the order should have been disclosed. However, he said it ‘would not have affected the outcome of the application for a protective certificate’.