Bank of Ireland has begun legal proceedings against a Dublin solicitor, his wife, and their companies aimed at recovering loans of almost €70m.
The court heard that Brian and Mary Pat O'Donnell of Gorse Hill, Vico Road in Dublin and companies in which they have a shareholding owe €800m to several financial institutions across several jurisdictions.
Brian O’Donnell is described on his website as one of Ireland’s leading corporate lawyers. The firm’s international experience, it says, is recognised as among the best in the Irish legal profession.
The firm is one of those on the panel to provide legal advice to the National Asset Management Agency.
Bank of Ireland says it first became concerned in September 2008 about the O'Donnells’ ability to meet their repayments on the various loans and became increasingly concerned last year.
