SENATOR FIONA O'Malley is to buy out her former boyfriend's financial interest in the €1 million home they shared for several years.
Ms O'Malley had asked the Circuit Civil Court yesterday for a declaration that she was the sole beneficiary and owner of the house Sea Spray, Sandycove Avenue East, Dún Laoghaire, Co Dublin.
Peter Clein, for Ms O'Malley, told Judge Joseph Matthews that after three hours of negotiations, she and her former boyfriend, film set designer Michael Standish, Bendemeer Road, Putney, London, had reached an agreement.
He said the parties had reduced the settlement to writing and that Marian Moylan, counsel for Mr Standish, had wished the terms to be filed in court.
Mr Clein said the agreement provided for various legal matters to be carried out and determined what would happen with regard to these in the future.
The house had been bought in 2002 in joint names and is partly encumbered by an existing mortgage. Ms O'Malley's relationship with Mr Standish ended in 2005. Both parties had wanted the financial interest of each in the property determined by the court.
Ms O'Malley had recently shown an interest in becoming leader of the Progressive Democrats party which was founded by her father, Des O'Malley, who attended court with her yesterday.