Legal

Lender threatens to ‘wipe out’ Johnny Ronan’s real estate group, High Court told

Claim made as part of security for costs application from Fortress Investments Group because Ronan firm pursuing ‘exceptionally weak’ case is insolvent

RGRE lodged High Court proceedings against Fortress last summer over what it alleges was a failure to engage with refinancing arrangements on loans in 2022

Johnny Ronan’s real estate group has alleged a lender threatened to “wipe out” the wider firm as part of a row over the repayment of loans worth over €100 million.

The claim was made in legal filings as part of an application by Fortress Investments Group, its junior lender on a portfolio of high-value Dublin assets, to have Ronan put up over €800,000 in security for its legal costs.

This is because it alleges that the Ronan Group Real Estate (RGRE) company fighting the case does not have the money to fund the lawsuit.