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08/06/2012
Tom McFeely's Wife Loses €10m Dublin 4 House
The wife of bankrupt developer Tom McFeely has been given seven weeks by the Dublin Circuit Civil Court to find alternative accommodation following possession of their Dublin 4 home being granted to NAMA.
Judge Jacqueline Linnane said she would grant a stay on the order for possession until 1 August.
The judge refused a longer stay which would have allowed Nina McFeely and her two teenage sons remain in the €10m property while one of them completed his education over the next year.
The judge said the decision took into account the substantial amount outstanding to NAMA and the circumstances of the family,
NAMA had expressed concern last Wednesday about the fact the property, which constituted security for the former Irish Nationwide mortgage, was no longer insured.
The judge added that security on the mortgage was at risk when there was no insurance in place.
(H)
Judge Jacqueline Linnane said she would grant a stay on the order for possession until 1 August.
The judge refused a longer stay which would have allowed Nina McFeely and her two teenage sons remain in the €10m property while one of them completed his education over the next year.
The judge said the decision took into account the substantial amount outstanding to NAMA and the circumstances of the family,
NAMA had expressed concern last Wednesday about the fact the property, which constituted security for the former Irish Nationwide mortgage, was no longer insured.
The judge added that security on the mortgage was at risk when there was no insurance in place.
(H)
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