Widow named in actions by Anglo
Published 03/04/2011 | 05:00
SEVERAL banks are taking legal proceedings against the widow of a property developer who took his own life while under enormous pressure over his financial affairs.
The Galway developer John O'Dolan, 51, took his own life in February 2009, prompting his friend Fr Peter Finnerty to question the role of financial institutions in pressuring clients.
Now Mr O'Dolan's widow, Eileen, has been named in legal actions in the High Court by Anglo Irish Bank, Allied Irish Bank and Bank of Scotland. Others are also named as parties to the proceedings.
The cases are thought to relate to her husband's interests. Mrs O'Dolan was a co-director of several businesses with her husband, three of which are in now receivership. Nama also began legal proceedings against Galway City Hostel, of which Mrs O'Dolan is also a director, and which was placed in receivership last year.
The plethora of litigation comes at a traumatic time for the O'Dolan family, who marked the second anniversary of the developer's death in February.
Mr O'Dolan was the most successful developer in the west of Ireland, with a string of landmark deals to his name. His company bought the Island of Ireland in the World development in Dubai for €28m and, the following year, bought the Island of England for a similar sum.
His businesses suffered in the property crash. An inquest heard that he saw a psychiatrist on the day before he took his own life.