On Friday last, the Independent opined that NAMA was taking its time in selling Tom McFeely’s former home at 2 Ailesbury Road, Dublin 4 because of what that paper would dearly love to believe, that there is a bounce in south Dublin property prices. It seems however that there is another reason why NAMA mightn’t have yet moved to market the €10m property which was seized in August 2012 on foot of a High Court repossession order – Tom McFeely is seemingly appealing the seizure in a court case which is set for mention on Monday 22nd October 2012 – the matter is not yet in the Legal Diary of the Courts Service, but is referred to in the Listing in case reference 2012/129 CA.
NAMA had already faced, and overcome, difficult hurdles in ultimately getting possession of the property in August 2012. Tom McFeely’s wife, Nina had pressed for a deferral in the actual repossession for a year to allow their teenaged son to complete his Leaving Certificate studies. NAMA had expressed concern at the apparent lack of insurance at the property, and after a drawn-out battle over several months across the Circuit Court and High Court, NAMA eventually moved in with the Dublin Sheriff on 10th August 2012 to change locks and install its own security.
It was almost exactly a year ago when Tom McFeely’s incarnation as failed property developer was catapulted into the national headlines when the whole sorry Priory Hall mess reached the courts. “You couldn’t build a snowman”, the distraught residents shouted at the developer in the precincts of the Hight Court as it became clear that their Tom McFeely-built Priory Hall complex in Donaghmede, north Dublin was a fire hazard, in which inter-apartment firewalls were deficient. The 250-odd residents were forcibly evacuated and have since been left in Limbo as Homebond and Dublin City Council have passed the buck over the cost of repairs and temporary rehousing, and Tom McFeely himself has been declared bankrupt, first in the UK where the bankruptcy was overturned, and then in Ireland. He narrowly avoided jail when the Supreme Court overturned a High Court imprisonment order, and three weeks ago, he was remanded on bail until this coming Tuesday, 16th October 2012 on foot of a €24,000 debt owing to recruitment and personnel company MCR.