Bid to repossess developer’s €6m home

Developer Laurence O’Mahony, and his wife, Christine Connolly, have been told that the Trustee in Bankruptcy in Britain, where he declared himself bankrupt, will not oppose a claim by National Asset Loan Management to re-possess the couple’s €6 million Ballsbridge home.

Mr 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.

Michael McDowell, SC, who appeared with Robert Fitzpatrick for the debt recovery agency, sought an order for possession of Mugnano, No 7 Shrewsbury Road, Ballsbridge, against which four mortgages totalling €6.75m had initially 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 on the debt.