Bankrupt lawyer’s children to appeal loss of home

The four adult children of bankrupt solicitor Brian O’Donnell are to appeal a High Court ruling that allowed Bank of Ireland possession of their home in Killiney, Co Dublin.

The property, on three-and-a-half acres at Gorse Hill, Vico Rd, Killiney, was valued at €30m in 2006 but its current value has been estimated at between €6m and €7m.

In July, Mr Justice Brian McGovern dismissed an action by Blake, Blaise, Bruce and Alexandra O’Donnell aimed at preventing a bank appointed receiver from taking possession of the property.

The children claimed they were the legal and beneficial owners of Gorse Hill and that the bank had no valid claim to it. They had asked the court to discharge Tom Kavanagh as the receiver appointed by the bank over the property. They also sought damages.

The bank had opposed their action and in his detailed ruling delivered last July, Judge McGovern dismissed the children’s claim clearing the way for the receiver to take possession of and ultimately sell the property.

Yesterday the matter was mentioned before Judge McGovern by Ross Maguire SC, for the children, who said they would lodge their Supreme Court appeal by Oct 1.

The judge, on an application by Cian Ferriter SC, for the bank, had directed that possession of the property be handed over to the bank’s receiver by Oct 21 next. The bank had argued it was entitled to possession on foot of securities provided in loans made to the children’s parents who were recently adjudicated bankrupts.

The bank secured judgment against the O’Donnell parents at the Commercial Court in Dec 2011 over the unpaid loans after a settlement reached between the sides had broken down.