BOI pursues solicitor for €69m in outstanding loans
The Commercial Court has heard a Dublin solicitor, who is being pursued for €69m, claims Bank of Ireland told him it would be flexible in relation to property loans and guarantees.
The bank is looking for summary judgment against Brian O’Donnell - whose firm advises Nama - and his wife Dr Mary Pat O’Donnell of Gorse Hill, Killiney, Co Dublin, over unpaid debts.
Outside of these liabilities to Bank of Ireland, it is claimed that the couple and their three companies have total borrowings of around €800m across several jurisdictions.
Senior Counsel Paul Gardiner for the bank says the O’Donnells don’t deny defaulting on repayments and instead argue Bank of Ireland had promised flexibility on the debts and was now putting undue pressure on them to repay.
However Mr Gardiner says the couple are not "innocents abroad2 and has described this defence as one of "Mr O’Donnell knows best".
