In a sworn statement to the court the fund said the loan was to be used to fund an investment by the partnership in the Quinlan Private CERDII Fund.
The partnership is made up of Gay Byrne, his wife Kathleen of Shrewsbury Square, Sandymount Avenue Dublin 4, and their daughters Susan O’Byrne – an office manager of Onslow, The Baily Howth, Co Dublin – and Crona Byrne – an entrepreneur of Tinerana, Raheenmore, Co Clare.
The loan was for a period of six years, and expired in 2013.
In November 2015 the fund purchased the loan from BOSI.
In its action against the partnership, the fund claims the monies borrowed were not repaid.
In April of this year the fund says it made a demand on the partnership for the full amount it claims is outstanding on the loan.
It claims the demand has not been satisfied and seeks judgment against the partnership of just over €1.226m.
The case was admitted to the fast track Commercial Court list by Mr Justice Brian McGovern.
There were no objections to the application to have the case admitted to the list, made on behalf of the fund by Paul Gardiner SC.
