FINANCES:THE LATE Gerry Ryan had borrowings of €316,470 from the company he used to bill RTÉ.
Ryan used Balcom Management Ltd in his dealings with RTÉ, which paid him €629,865 in 2008, according to figures released by the station in October of last year.
The latest accounts for Balcom are for 2009 and state that at the end of the year Ryan’s borrowings had increased from the €246,242 he owed at the beginning of the year.
Ryan owned the company with his wife, Morah. The interest-free borrowings by Ryan were €161,738 at the end of 2007. Ryan was a director of the company up to his death and directors’ loans are normally disclosed in company accounts.
The accounts for Balcom are abridged and do not give profit figures. However, they do show that the accumulated profits of the company had been falling, indicating it was suffering losses. The accumulated profits were €163,520 at the end of 2009, having been €464,245 at the end of 2007.
His partner, Melanie Verwoerd, said yesterday that Ryan had been under severe stress, including financial stress.
In the statement issued on her behalf yesterday his wife also spoke of her late husband being under pressure.
When RTÉ management sought 10 per cent pay cuts from its top broadcasters in March 2009, Ryan resisted, prompting criticism from some of his listeners.
He eventually agreed to the cut and apologised to those who felt he had spent too much time before agreeing to do so.
