Property

Johnny Ronan threatens bid to wind up Fortress-owned firm in row over Fibonacci Square

Developer claims he is owned €3 million in an insurance reward for the Ballsbridge premises, which was developed with the US investment group

Johnny Ronan: Developer says the payment is in relation to a contract with Fortress, which entitles him to 75 per cent of business pandemic interruption payments. Picture: Tony Gavin

Johnny Ronan has demanded a payment of more than €3.3 million from a US-based investment group in relation to their joint Fibonacci Square development in Ballsbridge.

The office building, co-developed by Ronan Group Real Estate (RGRE) and Fortress Investments Group, is currently let by Meta.

In a letter to Aquela, an Isle of Man entity owned by Fortress, lawyers acting on behalf of Ronan said non-payment of the sum may lead to him issuing a ...