Renowned former accountant Ossie Kilkenny has transferred ownership of his residence on Killiney Hill to Pepper Finance, with a 12-month grace period granted before the bank assumes possession to facilitate ongoing discussions.
During the court proceedings, barrister Tomas Keys, representing Pepper, apprised Judge John O’Connor of the agreement. He elucidated that the court could proceed with a consent order for the transfer of the property to Pepper Finance in accordance with the documentation detailing the outstanding debt of €2,186,434 on the Kilkennys’ family home.
Mr. Keys highlighted the continuous discussions and negotiations between the parties, facilitated by their legal representatives. Consequently, the Kilkennys consented to the court issuing an order for possession of their home in favour of Pepper Finance. Both parties also agreed to a 12-month deferment on executing the possession order to allow for ongoing dialogue.
Furthermore, it was agreed that no court costs would be levied on the Kilkennys. Legal counsel for the couple confirmed their acquiescence to the granted orders.
Caroline Loftus, senior operations manager for Pepper Finance Corporation, submitted an affidavit to the court, providing an update on the status of the Kilkennys’ mortgage account. The outstanding arrears on the expired mortgage had incremented from €2,088,432 to €2,186,434 as of 2nd November 2023, denoting an increase of €98,000.
Notably, Mr. Kilkenny (77) and his wife, Anna, were not present during the court session. Nonetheless, Judge O’Connor proceeded to sanction the requests made by both parties.
The development of Ossie Kilkenny’s relinquishment of his property to Pepper Finance carries significant implications, given his previous oversight of financial matters for high-profile individuals. This outcome serves as a reminder of the potential challenges individuals may encounter in managing their personal finances, irrespective of their professional background.
The involvement of legal professionals and the willingness of both parties to reach an agreement illustrate the significance of open communication and negotiation in resolving legal and financial affairs. The decision to permit a 12-month period for ongoing discussions reflects the commitment to finding a mutually agreeable resolution.
In conclusion, the case of Ossie Kilkenny’s property transfer to Pepper Finance underscores the importance of prudent financial management and the complexities that may arise, even for individuals with extensive experience in the field. It also underscores the value of constructive dialogue and legal counsel in navigating such circumstances.