Friday, August 23 16:40:04
Brian O'Donnell and his wife Dr Mary Patricia have been adjudicated bankrupt by the High Court.
Bank of Ireland had applied to have the couple declared bankrupt after they failed to satisfy a judgment for E71.57m obtained against them, RTE.ie reported this afternoon.
The judgment was obtained by BOI in December 2011 after they failed to repay loans advanced by the bank.
The O'Donnells, who had extensive property interests in Ireland and overseas, opposed BOI's application on grounds including Ireland is not their main centre of interest.
In his ruling this morning, Mr Justice Peter Charleton adjudicated the O'Donnells as bankrupt after finding the Donnells' centre of main interest is Ireland and not England as they had claimed.
The judge said from the evidence it was "impossible not to find" that their main centre of interest "was in Ireland", the RTE report said.
The couple, who were legally represented, were not present in court for the ruling.
In March 2012, the couple applied to the English courts to be adjudicated as bankrupts.
They applied to the courts in that jurisdiction on the grounds their centre of main interest was England, where they have resided since late 2011 and where they had property interests.
BOI opposed their application to the English courts, and initiated proceedings to have the couple adjudicated bankrupt in Ireland.