O'Donnell children battle for family home
AN Isle of Man company owned the luxury family home of solicitor Brian O'Donnell in Killiney, Dublin, as part of a tax-planning scheme, the Commercial Court has heard.
Bank of Ireland – in disputing claims by Mr O'Donnell's four adult children it is not entitled to possession of the house as part of efforts to enforce a €71m judgment obtained against Mr O'Donnell and his wife, Dr Mary Patricia O'Donnell – contends it has a valid security over the property on Vico Road.
The house was once valued at about €30m but is now valued at between €6m and €7m.
In a witness statement to the court, Eoin Geoghegan said he was BoI Private Banking's main relationship manager for Mr O'Donnell and his wife Mary Patricia from 2006 to 2008.
Mr Justice Brian McGovern will hear further evidence from a bank witness today in the continuing action in which the children want orders discharging the bank's June 2012 appointment of a receiver over the property.