Business Irish

Tuesday 24 April 2018

O'Donnell well shod for Vico lawsuit

Roisin Burke

IN the face of extreme adversity, it doesn't hurt to look your best. Head high, Blaise O'Donnell, daughter of property investor couple Brian and Mary Patricia O'Donnell, is pictured in Alexander McQueen peep-toe skull heels and toting a Mulberry handbag outside the Four Courts on Wednesday. With their distinctive skull emblem, the shoes retail at €845.

Blaise and her siblings, Alexandra, Blake and Bruce, are challenging the appointment of a bank receiver to the family mansion in Killiney.

Bank of Ireland is seeking to enforce a €71m judgement against Brian and Mary Patricia O'Donnell related to unpaid loans, and the bank claims the O'Donnell children are not in lawful occupation of the Vico Hill property.

Once valued at €30m, it is now worth around €7m and is beneficially owned by the four children via an Isle of Man trust for tax purposes.

BoI claims that the house, near to Bono's home, was provided as security for loans advanced by it to Brian and Mary Patricia, former directors of Vico Capital. The bank argues that the children have no legal interest in it.

The case continues.

Irish Independent

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