Goldman Sachs says they did not act unlawfully in Dublin Aberdeen Lodge dispute with Keane family and Kenmare Properties. 

Goldman Sachs has strongly denied they have acted improperly in seeking to take possession of a Dubin Bed and Breakfast business and family home which ran into difficulties during the property crash.

Ann Keane, the owner and proprietor of Aberdeen Lodge in Dublin, is accusing the bank, through a subsidiary vulture fund, of trying to evict her and her children after they fell behind on bank repayments.

The Bed and Breakfast is home to her and her two children Simone (10) and Blake (4).  She says It is also her livelihood, her only means of earning an income and providing for her family.

Read More: Irish mother takes on Goldman Sachs to save her family home

Goldman Sachs subsidiary Kenmare Properties is pursuing the family seeking to gain possession of the property. In a statement sent to IrishCentral Goldman Sachs stated “Every effort has been made over a number of years to find a resolution to this matter through a regulated loan servicer.The borrower in question has debts of over €25 million and the property, worth upwards of €4 million, is held as security for those debts.

“A viable proposal has not been forthcoming from the borrowers and accordingly the matter has been the subject of litigation for a number of years, resulting in court rulings in favour of the lender.

Ann Keane. Photo: www.fergalkearney.com

Ann Keane. Photo: www.fergalkearney.com

Keane however disputes the Goldman assessment.  “This statement is totally untrue. The loan on Aberdeen Lodge is €980,000 and (was) originally with Irish Nationwide Building Society. It was purchased by Goldman Sachs for the knocked-down price of €300,000 in 2014.

(The discrepancy in amounts appears to involve property assets of Anne Keane’s partner which also failed in the crash and whether they are connected to the Aberdeen House business)

Anne Keane is adamant her holding is separate. “For the record, I am making regular monthly payments on this loan.

“I have offered on numerous occasions to pay back the full value of the loan of €980,000.

“I have increased that offer over the past 12 months to €1.25 million.

“By any stretch of the imagination, this represents a very handsome return on the original investment of €300,000.

“Goldman Sachs and their agents in Dublin ( Pepper) have never at any time engaged with me all they “have ever stated was "all we want are the keys to my home and my life.

“I would appeal to the bank to respond to me as quickly as it did a moment ago, as it would be greatly appreciated.”

Goldman is known as an aggressive pursuer of individuals who default, often seeking summary judgment which allows them to pursue personal assets of the borrowers involved.

Ann Keane is the owner and proprietor of Aberdeen Lodge in Dublin, Ireland www.FergalPhillips.com