€22.6m judgment against O’Reilly

One-time billionaire businessman Tony O’Reilly has had a judgment for €22.6m entered against him at the Commercial Court.

He has other borrowings of some €195m and is insolvent, the court heard yesterday. Judgment for other sums totalling almost €23m was also entered yesterday in favour of AIB against two of Mr O’Reilly’s investment vehicles, Indexia Holdings and Brookside Investments Ltd.

Mr O’Reilly, aged 78, did not object to entry of judgment but his counsel sought a six-month stay on registration and execution of the judgment to allow for orderly completion of a sale of unsecured assets&