Bank of Ireland seeks speedy determination of action over O’Donnell home
Children challenge appointment of receiver and manager over luxury family home
The property at Vico Road, Killiney, Co Dublin.
Bank of Ireland claims the four adult children of solicitor Brian O’Donnell are not in lawful occupation of the family’s luxury home in Co Dublin and it wants their legal action over the property to be speedily determined.
According to a statement of affairs from Brian O’Donnell and his wife, Dr Mary Patricia O’Donnell, the property at Gorse Hill, Vico Road, Killiney, was valued at €30 million in 2006 but is worth between €6 million and €7 million now.
Alexandra, Blake, Bruce and Blaise O’Donnell are challenging the appointment by the bank of a receiver and manager over Gorse Hill on June 7th, 2012. They are also challenging mortgages and guarantees entered into in 2006 by Vico Ltd, the Isle of Man company which owns Gorse Hill.
The matter came before Mr Justice Peter Kelly yesterday when he was asked to set a timetable for exchange of legal documents ahead of the hearing. The sides disagreed how much time was necessary for that.
Proinsias Ó Maolacháin, for the children, said they had the services of a small firm of solicitors, not “an office floor” of solicitors, and needed some leeway. The bank had sought a lot of documents and agreement had been reached in that regard, while extensive documents were also sought from non-parties.
This was a case where knowledge of what happened was with trustees and the bank and, to some extent, his clients’ parents, Mr Ó Maolacháin said. He asked to have until June 3rd to provide witness statements.
Cian Ferriter SC, for the bank, said June 3rd was too much time, the case was initiated last July and the plaintiffs must know what case they were advancing. The bank contended they were not in lawful occupation of Gorse Hill and was aiming for a trial in late June.
Mr Justice Kelly made a series of directions for exchange of documents, including that witness statements be provided by May 23rd. He considered that was reasonable time.