O’Donnell children had to declare no interest in home to get bank deal

The four adult children of solicitor Brian O’Donnell were required to provide statutory declarations they had no interest in their luxury home in Killiney, Co Dublin, in an effort to get their parents “off the hook” for €71m, the Commercial Court heard yesterday.

Mr Justice Brian McGovern also heard €10m was spent on refurbishing the property at Gorse Hill, Vico Rd, valued at €30m in 2006 but now said to be worth between €6m to €7m. Some art works were “missing”, Des Hanrahan of Bank of Ireland also said.

Arthur Cox, solicitors for the bank, sought statutory declarations from Blake, Blaise, Bruce, and Alexandra O’Donnell they had no interest in Gorse Hill before the bank would agree to a settlement of its legal proceedings brought against Brian and Mary Patricia O’Donnell, seeking €71m arising from unpaid loans, Mr Hanrahan, a director of the bank’s specialist property group, confirmed.