Bankruptcy halt for O'Donnells
BANK of Ireland has opposed efforts by property investors Brian O'Donnell and his wife, Mary Patricia, to file for bankruptcy in London.
The O'Donnells have filed a debtors' petition for bankruptcy, with their solicitor insisting the application is "urgent".
During the peak of the property boom, the couple had established property syndicates that invested up to €2bn in some top-flight properties around the world.
Bank of Ireland has already lodged a creditor's petition before the Irish courts seeking the O'Donnells' bankruptcy. Counsel for the bank Hanna Thornley said that it will halt such proceedings until jurisdiction is decided by the High Court in London.