Mr O'Donnell was managing partner at William Fry, one of the Ireland's largest law firms, in the 1990s but left the practice to set up his own firm, Brian O'Donnell and Partners, in 1999. Within six years he and his wife were leading property speculators and were investing in office and commercial property in locations such as Stockholm, London and Washington DC.
Sought UK bankruptcy
But then the financial crisis came - and their serious financial problems started in 2011 after the Bank of Ireland took them to court for repayment of €69m of loans. The ramifications of those proceedings continue today. Having been refused permission to seek the protection of bankruptcy in the UK, the couple have sold much of what they owned before and are fighting over this property, in the names of their children, with the Bank of Ireland. Their children unsuccessfully sought a court order to enable them to stay there.
PwC and William Fry
William Fry has a staff of about 420 and is a leading sponsor of events in Ireland - for instance, working with PwC and the bank AIB to sponsor a family business centre. Sources: Irish Times and RTE
Email your news and story ideas to: [email protected]
