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McFeely partner may lose €6m home


Laurence O’Mahony

Laurence O’Mahony

Laurence O’Mahony

THE former business partner of Tom McFeely in the Priory Hall development may lose his €6m Ballsbridge home.

Laurence O'Mahony (inset) and his wife, Christine Connolly, have been told that the Trustee in Bankruptcy in the UK, where he declared himself bankrupt, will not oppose a claim by National Asset Loan Management to repossess the Shrewsbury Road home.

O'Mahony told the Circuit Civil Court yesterday he had been adjudicated a bankrupt in England in April 2011 and on being discharged from bankruptcy a year later had been "discharged from all bankruptcy debt".

He claimed his €6.5m liability to NALM was a bankruptcy debt and, accordingly, on the date of his discharge from bankruptcy in April 2012 he had been released from this liability.

O'Mahony was a partner with Tom McFeely in the development of Priory Hall.

Michael McDowell, for NALM, sought an order for possession of Mugnano, on Shrewsbury Road, Ballsbridge, against which four mortgages totalling €6.75m had been granted by Irish Nationwide Building Society. The court heard that the last payment on the mortgages was made in 2010 and €6.5m was still outstanding.

O'Mahony accepted his bankruptcy discharge did not prejudice any security held by NALM, if valid, over his family home.