Nina McFeely, wife of bankrupt developer Tom McFeely, is to ask a judge to allow her continue living in their €10m Dublin 4 home until one of her children completes his Leaving Cert in June next year.
Judge Jacqueline Linnane said in the Circuit Civil Court today that she was prepared to grant NAMA an order for possession of the McFeely home at No 2 Ailessbury Road, Dublin, but adjourned until Friday the question of freezing her order.
Barrister Martin Canny, counsel for the McFeelys, said there was little defence the couple could present to the bank recovering the property on foot of a €10m Irish Nationwide mortgage, but he would be applying for a stay on the court’s order.
Mr Canny said the McFeely’s two teenage children continued to live with their mother in the property, which was a family home, and he would be asking the court to allow the family remain until one of the children, who is 17, had completed his education.
Michael McDowell, SC, counsel for the bank, told the court the McFeely’s had no defence to the application for possession of the property and the bank was prepared to agree to a stay of several weeks to allow them find alternative accommodation.
He said the property was not currently insured and would remain uninsurable by the bank until it had obtained full possession of the house. It would certainly not be agreeable to a stay until completion of the youngest child’s education.
Mr McDowell, who appeared with Robert Fitzpatrick, BL, said that in order for the McFeelys to obtain a brief stay of the order it would be necessary for them to give an undertaking to the court that they were in a position to insure the property and show to the court proof of insurability.
Mr Canny told the court that Mr McFeely, a former Maze hunger striker, and his wife and children were still a family unit although Mr McFeely now spent most of his time living in London.
Judge Linnane said she was prepared to grant the bank an order for possession but would adjourn until Friday the matter of granting a stay.
She said that in order to grant a stay to the family she would require documentary proof that the property had been insured or that an insurance company was dealing with an insurance cover application.
Mr McFeely was declared a bankrupt in London in January last.