Ryan family settles dispute over management of property assets

A DISPUTE between the six adult children of the late Judge Noel Ryan over the management of property assets previously valued at €15 million but now worth considerably less has been settled without any admission of liability.

The settlement was announced yesterday at the Commercial Court to Mr Justice Frank Clarke, who said it was particularly welcome as the case involved family difficulties that could undoubtedly have worsened had the case gone to full hearing.

Four of the Ryan siblings – Declan Ryan, Sittingbourne, Kent, England; Marie McGovern, Foxrock, Dublin; Martin Ryan, Southern View, Baily, Co Dublin; and Irene Ryan, Stonepark Abbey, Grange Road, Rathfarnham, Dublin – brought the action against their brother, Oran Ryan, a solicitor, of Westminster Road, Foxrock, Dublin, and sister Trinette Larkin, Countess Road, Killarney, Co Kerry.

The four made allegations about how Oran Ryan managed a former family partnership set up by their father and mother. Judge Noel Ryan was described as the driving force in that partnership until age and health factors resulted in its management being allegedly increasingly left to Oran.

Judge Ryan was a judge of the Circuit and non-jury Special Criminal Courts. He came to public attention in the 1980s when he rejected an appeal by New Ross, Co Wexford, schoolteacher Eileen Flynn against her sacking after she became pregnant by a separated man with whom she was living.

In the action, the plaintiffs claimed, due to alleged acts or omissions by Oran Ryan and Trinette Larkin, they could not sell any of the properties. The claims were denied.

Announcing the settlement yesterday, Brian O’Moore, for the plaintiffs, thanked the court for giving time for talks between the parties and said the only order required was to adjourn the case generally with liberty to re-enter and no order for costs.

The settlement was without any admission of liability on the defendants’ part, counsel added.

All six siblings were members of the Ryan Rentals Partnership, which was dissolved in October 2007 by Marie McGovern on notice to all members.

It began life as a trust in 1972, set up by Noel and Lorna Ryan, and acquired properties for investment purposes at 16 and 17 Fitzwilliam Square; Olympia House, 61-63 Dame Street; Shamrock Chambers, Eustace Street; and 4 Fitzwilliam Place, including a mews at 4 Ladd Lane. It also held a family holiday home at Portnoo, Co Donegal, and a time-share apartment in Lanzarote.

There was a dispute about whether another property at 5 Cogill’s Court, Temple Bar, now formed part of the partnership.

Opening the case, Lyndon MacCann said that while the siblings got on well with their father, they did not necessarily get on as well with one another and that “unfortunate tension” between some of them was perhaps reflected in the fact the matter had come to court.

Counsel said the partnership was “technically insolvent” in the sense the annual rent payable by it exceeds the rental income being received for various properties. However, even in this deflated property market, the value of its property assets should still exceed its liabilities, he added.

A receiver had been appointed but has experienced difficulties selling any properties. Mr MacCann said there had been moves to sell the properties in 2007 when their values would have been much higher. An indicative offer made now for one of the properties was less than half what had been discussed in 2007.