Ex-Smart boss to lose his home

FORMER Smart Telecom chief executive Oisin Fanning yesterday lost a bid to stop a bank taking possession of his luxury home because of an alleged failure to keep up payments on an €8 million loan.

The High Court ruled that Anglo Irish Bank was entitled to possession of Forenaghts House, which stands on 24 acres at Forenaghts in Naas, Kildare, where Mr Fanning, partner, Pearl Roche, and her four grown-up children live.

Ms Justice Elizabeth Dunne put a stay on the possession order for three months on the basis that Mr Fanning make a €400,000 interest repayment by April on the loan which now stands at €8.6m.