Promoter wants to reduce monthly repayments on €250,000 debt to Mario Rosenstock firm

Promoter wants to reduce monthly repayments on €250,000 debt to Mario Rosenstock firm
Mario Rosenstock

An events promoter, who is applying for insolvency, has been again warned he could face jail over a €250,000 debt to comedian Mario Rosenstock, writes Tom Tuite.

Dublin District Court has heard that concert and events promoter Darryl Downey owed the money to Blue Elf Inc Ltd, a company owned by mimic Rosenstock. He has been unable to keep up with a repayments schedule and now plans to make an insolvency application, the court was told today.

Rosenstock’s firm is looking to have Downey jailed as a result of the arrears and a judge had warned the promoter earlier that he has a draft warrant for arrest and committal on file.

Today Judge Michael Coghlan told him that he has a duty to enforce the matter until an insolvency order is made and a full statement of his means had to be furnished to the court.

Downey’s counsel Tessa White said he has been applying for full-time jobs and currently has a part-time position earning €250 a week.

Darryl Downey, concert promoter leaving court today after the hearing. Photo: COURTPIX
Darryl Downey, concert promoter leaving court today after the hearing. Photo: COURTPIX

Counsel for Blue Elf Ltd, Jane Linnane, pointed out that Downey, who is now residing rent-free at an address in Enniscorthy, Co. Wexford, had just looked for work in the entertainment industry. Ms White said her client did not have significant experience in other sectors and she added that he is making efforts to address his debt.

Judge Coghlan agreed to vary the instalment order reducing it to €100 a week. He adjourned the case until a date in June and reminded Downey that this was the third time the order had been changed and “the position in relation to incarceration stays the same”.

He was concerned that money had been taken from a company controlled by Downey and used to pay other creditors. It would be treated as a contempt of court if it happened again, the judge also said.

Meanwhile separate proceedings at the district court arising from a debt of €52,000 to another claimant were also adjourned today.

Comedian Mr Rosenstock, who rose to fame with his Gift Grub sketches on TodayFM and now has a successful show on RTE, was not present when the case resumed on Tuesday.

At a previous hearing, Judge Coghlan said Downey was a “failed promoter” and ordered him “to get a job, any job” which pays a “normal weekly wage”. He had also warned that he would run out of patience if he hears Downey “is continuing to hope for the next big deal”.

The debt with Blue Elf Inc Ltd is the subject of a High Court judgement and in January last year the district court had granted a variation on an instalment order reducing the monthly repayment from €5,000 to €1,500.

Counsel for Blue Elf Inc Ltd had said that between January 2016 until the hearing in December there had just been a total of €5,400 paid by Downey to her client.

Since September just €900 was paid while during the same period Downey made payments to another creditor who was not the subject of a judgement.

Counsel has submitted this money should have gone to her client. She also said that he has increased his living expenses and that money should have also been used to pay the debt to Blue Elf Inc Ltd.

She said Blue Elf Inc Ltd and the court's orders have been continuously ignored and she said it was in those circumstances that a committal warrant was being sought.

She has also said that in September Downey went to America and spent about €11,000.

Downey said he cannot afford to pay any more. The court heard he had been a self-employed concert and events promoter since 2003.

He said the case related to a number of live shows going back to 2012 as a result of which about €750,000 was owed to Blue Elf Inc Ltd. Some €500,000 was paid over. He said he does not presently have the funds to pay the rest.

His company Jarash Ltd has about €28,000 but his counsel explained those funds were needed to get shows off the ground.

Mr Downey has also claimed that he was led to believe by his accountant that he was due to receive a €200,000 VAT refund but that did not materialise. He said that since the instalment order was made he has had to borrow €4,000 from his mother.

He said that the role he had has stopped because of the cancellation of the 2015 Killarney Festival of Music and Food.

His counsel had told the court that Downey brought great success for people who went on to become household names but he was perhaps unaware of the pecking order in relation to his debts.

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