Businessman Laurence O'Mahony and his wife, Christine Connolly, have lost their €6 million home located at what a judge described as the best-known address in the country.
Judge Jacqueline Linnane yesterday granted National Asset Loan Management Ltd an order for possession of 7 Shrewsbury Road, Ballsbridge, Dublin, where Ms Connolly lives with the couple's three children.
Michael McDowell SC, who appeared with Robert Fitzpatrick for the debt recovery agency, told the Circuit Civil Court there were four loans initially granted by Irish Nationwide Building Society totalling €6.75 million still outstanding against the property.
Séamus Breen, for Mr O’Mahony, asked the court to grant the family up to next January to regulate their affairs and move out of the house.
Frank Beatty, for Ms Connolly, asked the judge to allow the family to remain in the house until the end of the school term in June next year.
Mr O’Mahony was a partner with Tom McFeely in the development of Priory Hall.
He declared himself bankrupt in the UK in April 2012 and claimed that when he had been discharged from bankruptcy in April of this year, he had been cleared of all bankruptcy debt.
Judge Linnane said not a penny had been paid off the loans since December 2010 and a €6.75 million debt remained unpaid.
She put the question of a stay on her order into the court list for mention next week.