Family home fears for property investor Shay O'Donoghue

A property investor fears an attempt by receivers to take possession of three houses he and his wife own in Sandycove and Dalkey, Co Dublin, will lead to moves to repossess their family home, the commercial court has heard.

Shay O’Donoghue, aged 68, and his wife Paula, obtained €6.8m in loans from the former Anglo Irish Bank between 2007 and 2010 to buy two houses on Castlepark Road, Sandycove, and a third at Cunningham Road, Dalkey.

Their combined value today is around €4m, according to LSREF III Stone Investments which bought the loans from Anglo’s successor, IBRC.