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Sunday 19 November 2017

O'Donnell and BoI clash on ownership of contents

Tim Healy

SOLICITOR Brian O'Donnell and Bank of Ireland have clashed over the ownership and value of art, antiques, furniture and other contents of luxury homes in Dublin and London.

The row has come before the Commercial Court as part of the bank's efforts to enforce a €75m judgment against him and his wife Dr Mary Pat O'Donnell.

The bank claims values of between €5m and €7.5m for art and antiques were provided to it in statements of assets of Mr O'Donnell and his wife for the years 2005 and 2006.

Mr O'Donnell claims those values were a mistake but the bank disputes this. It also disputes Mr O'Donnell's claim his children own the couple's former family home at Gorse Hill, Vico Road, Killiney on foot of a trust. Mr O'Donnell claims he has been advised by an auctioneer the value of the contents of Gorse Hill and another luxury property at London House, Barton Street, London is about €108,575 and Stg£22,110 (€27, 340) respectively.

The dispute arises in an action by BoI, brought as part of its efforts to enforce judgment, now amounting to some €75m, granted last year against Mr 0'Donnell and his wife over unpaid loans.

Yesterday, Mr Justice Peter Kelly agreed to adjourn until Thursday its application to have its proceedings aimed at securing possession of the contents of the Gorse Hill and London Street properties fast-tracked by the Commercial Court.

Irish Independent

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