Developer Tom McFeely loses High Court challenge over the repossession of his Dublin 4 homeMonday 19 November 2012 19.21
Bankrupt developer Tom McFeely has lost his High Court challenge against the repossession of his Dublin 4 home.
Mr Justice John Hedigan said following submissions that it was an "open and shut case" and there was nothing wrong with the repossession order.
The McFeely family home on Ailesbury Road was repossessed on behalf of the National Asset Management Agency last August because of a default on a mortgage loan of over €9.5 million taken out in 2005.
Today James Salafia SC said Mr McFeely argued that the order was invalid because he had been subject to a bankruptcy in Britain.
He also argued that the proper person to ask for the repossession order should have been the official assignee of the bankruptcy.
He said his client also believed that because the mortgage was taken out to pay two other loans the house was not liable as security.
Mr Salafia said that Mr McFeely was angry at "showmanship" used in putting him out of the house as well as false information about alternative accommodation.
Michael McDowell SC for NAMA said the only matter for consideration was the legitimacy of the Circuit Court order of repossession, which he said was "well charged".
He said bankruptcy did not interfere with a mortgagor's right to realise security on the loan.
Mr Justice Hedigan said it was traumatic for someone to be put out of their home but there was nothing he could do as there was nothing wrong with the situation.
He said it was the latest episode of the unfortunate situation that has befallen the country.
He dismissed the appeal.