BANK OF Ireland has brought proceedings against two companies controlled by Dublin solicitor Brian O’Donnell and his wife seeking summary judgment for some €8 million over unpaid property loans.
The actions against Grey Stoke Anonyme, registered in Luxembourg, and Vico Swiss Holdings, registered in Switzerland, were transferred to the Commercial Court yesterday by Mr Justice Peter Kelly.
After being told neither company was contesting the court’s jurisdiction to hear the actions, the judge listed the bank’s application for summary judgment in both case to be heard on March 3rd.
That same day, he will also deal with Bank of Ireland’s claim for €69.5 million against solicitor Brian O’Donnell, whose practice is at Merrion Square, Dublin, and his wife, Dr Mary Pat O’Donnell, Vico Road, Killiney, over unpaid property loans and guarantees.
The couple, and companies in which they have shareholdings, are alleged by the bank to have extensive additional borrowings of some €800 million with other financial institutions across several jurisdictions.
In its action against Grey Stoke, the bank is seeking summary judgment for €3.7 million arising from a loan advanced in 2007 to refinance existing debt with Ulster Bank over a mix of residential and commercial properties and to provide an equity release to fund further investments.
In the proceedings against Vico Swiss Holdings, the bank is seeking summary judgment orders for €4.28 million, it being the alleged balance due on a €13 million facility granted in 2007 in connection with the acquisition of an office property in Stockholm.
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