A DAUGHTER of property investor and solicitor Brian O’Donnell is appealing to the Supreme Court against orders directing her to give Bank of Ireland, which is pursuing her parents for €75 million, access to the family home in Dublin to determine its contents.
Lawyers for Blaise O’Donnell argued the orders were made “in secret” at a High Court hearing last Friday and required her to give the bank access to her home at Gorse Hill, Vico Road, Killiney, on threat of imprisonment.
Ms O’Donnell was “aghast” an order on her home could be made “in secret” in circumstances where she could face imprisonment if she disobeyed it. The search of the house, including her bedroom, was “a gross invasion of my privacy”, she said in an affidavit.
Bank of Ireland sought access to take an inventory of artwork, paintings, carpets, rugs, furniture, antiques, crystal, sculptures and jewellery, ornaments and electronic appliances. The inventory was carried out on behalf of the bank by its solicitors last Monday.
At an ex parte hearing (only one side represented) held in camera last Friday, Mr Justice Peter Kelly granted the bank orders restraining Brian O’Donnell, his wife Mary Patricia, children Bruce, Blaise, Alexandra and Blake, destroying, hiding or dissipating certain items, including art and antiques, from Gorse Hill.
The orders were also made against three companies – Vico Limited and Chancery Trustees, which are registered in the Isle of Man, and Jersey-registered Vico Barton, which owns the family’s property on Barton Street, near Westminster Abbey, London.
Yesterday, Ross Maguire SC, for Blaise O’Donnell, said the fact the orders were granted “in secret” and related to the family’s home raised issues of “profound constitutional importance”, he said.
Paul Gardiner SC, for Bank of Ireland, said the order was correctly made and had expired.
Chief Justice of the Supreme Court Mrs Justice Susan Denham said the case raised a very important point and the court would hear the appeal as a matter of urgency. The matter was listed for mention on May 24th next.
Meanwhile, in the Commercial Court, Mr Justice Peter Kelly adjourned a full hearing of the injunction application until May 21st after being told Ms O’Donnell would undertake to comply with the order restraining any action over the contents of Gorse Hill.
Bank of Ireland, which represents 90 per cent of Mr O’Donnell’s debts, took the application amid concerns the O’Donnells were attempting to put assets beyond the bank’s reach.
Mr Maguire said his client never had had any intention of dissipating the assets or destroying them to frustrate any creditor.
Mr Gardiner told the judge the bank had sought the inventory of contents of Gorse Hill to preserve them pending a resolution of a dispute over their ownership.
The bank would apply to have the dispute admitted to the Commercial Court list and intended to take possession of the property in August, he said.
The bank has concerns about statements made by Mr O’Donnell during the bank’s cross-examination last month relating to its efforts to recover the €75 million.
Accountants Deloitte said in a statement of net worth in 2005 that the O’Donnells had an art collection worth €7.5 million, while statements provided in 2006 by Mrs O’Donnell’s brother, chartered accountant Rory O’Beirne, said that it was worth €5 million.
Mr O’Donnell told the court last month the €7.5 million valuation was ludicrous and the €5 million valuation was a mistake. While the couple collected pictures over many years, they were not terribly valuable and anything in the Killiney home was owned by their children’s trust, he said.
The bank says it believes the contents are owned by the couple and not by a trust.
