Threat of repossession on home of former Smart chief executive lifted

HIGH Court proceedings over a repossession order on former Smart Telecom chief executive Oisín Fanning’s luxury home were adjourned indefinitely yesterday after a judge was told it should not trouble the court again.

Last January, Mr Fanning failed to stop Anglo Irish Bank getting a repossession order on Forenaghts House, which stands on 24 acres at Forenaghts in Naas, Kildare, over his alleged failure to keep up payments on an €8 million loan.

However, Ms Justice Elizabeth Dunne allowed a three-month delay on the enforcement of the possession order on the basis that Mr Fanning make a €400,000 interest repayment by the end of April on the loan.