Solicitor's answers lack credibility, court told
Solicitor Brian O’Donnell has given responses to questions related to his and his psychiatrist wife's assets that "lack credibility" and are "simply untrue", the Commercial Court heard today.
On what was the fourth day in which Mr O'Donnell was cross examined in relation to certain assets and properties linked to him barrister Paul Gardiner SC for Bank of Ireland asked the court to adjourn proceedings to allow Mr O'Donnell produce more documents concerning assets and trusts.
Mr O'Donnell, who said he is prepared to provide the documents, has rejected the banks claims in respect of his answers.
He is being examined by BoI as part of the bank's efforts to recover some €75m under judgment orders entered last December against him and his psychiatrist wife Mary Patricia, over loans and guarantees on loans obtained for investments and refinancing of other loans.
Counsel said the bank wanted details to inspected material including bank statements, e mails, share transfer agreements and documentation concerning the ownership of a number of properties including Westferry Circus and Columbus Courtyard, both at Canary Wharf, London as well as properties in France and Sweden.
While there had been significant discovery in the proceedings counsel said BOI required additional information about assets and companies involving the because answers given by Mr O'Donnell in relation to the assets "lacked credibility", while a couple of answers given "were untrue," counsel added. Such material should be made available by May 23, counsel argued.
The couple with an address at Gorse Hill, Killiney, Dublin have filed for bankruptcy in the High Court in London and their case is due to be heard on June 14 next.
Mr Gardiner said that BoI is very likely to challenge the O'Donnell bankruptcy application in the UK, and is also actively considering making an application to the Irish courts to have the O'Donnells declared bankrupt.
In response to the discovery application Mr O'Donnell said that it was always intended that the monies owed to BoI would be repaid. They put various proposals to BoI but BoI had not engaged with them in any sophisticated way, he said.
He agreed to make his best endeavours to provide the documentation sought, but said he required eight weeks to do. He said the information sought was in eight different jurisdictions, and in respect of some of the assets other investors would have to be consulted.
Matters were complicated by bankruptcy proceedings in the UK, and the fact that he was facing other proceedings brought by BoI in at least five other countries.
Today Mr Justice Peter Kelly agreed to adjourn the matter to June 26 next. The bank, the Judge said, was entitled to the documentation it sought, and he added Mr O'Donnell was willing to provide the information.
The Judge said he was not prepared to adjourn the matter for eight weeks. All materials, even if provided in piecemeal nature should be provided by June 6, the Judge said.
While Mr O'Donnell had limited resources, and that his property empire was now in a sad condition, the Judge said he was satisfied Mr O'Donnell had sufficient time to deal with the BoI's requests.
Much of what BoI seeks was readily available to him, plus much of the documentation had been prepared for the bankruptcy proceedings in the UK, the Judge added.
