On February 16, 2024, Vision Capital Corporation's proposals to sell or privatize Irish Residential Properties REIT were defeated in an extraordinary general meeting, along with attempts to remove 5 of the Company's 9 directors. The special resolution needed 75% shareholder support to pass but received only 40%. The resolutions to oust the outgoing CEO Margaret Sweeney, outgoing chairman Declan Moylan, CFO Brian Fagan, and board members Joan Garahy and Tom Kavanagh, which needed a simple majority to succeed, were also defeated, although 40% or more voted in favour of removing each director.

The Company stated that it had encouraged shareholders to reject Vision Capital's approach, deeming it risky. Declan Moylan stated that he told the meeting was open to working with Vision Capital, while also describing it as ?a sorry process?. Declan Moylan added that it has also offered Vision Capital a board seat, but this was not accepted.