[Lunchtime Bite] Priory Hall developer wins appeal against sentence

The developer the Priory Hall apartment complex Tom McFeely has won his appeal to the Supreme Co...

12.48 31 Jul 2012

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[Lunchtime Bite] Priory Hall d...

[Lunchtime Bite] Priory Hall developer wins appeal against sentence


12.48 31 Jul 2012

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The developer the Priory Hall apartment complex Tom McFeely has won his appeal to the Supreme Court against his 3-month prison sentence for contempt of court.

Mr. McFeely was declared bankrupt at the High Court in Dublin yesterday.


He won his appeal against the sentence that was imposed after he failed to repair fire safety defects at the housing complex in north Dublin.

Priory Hall residents said they were ‘extremely disappointed with today’s judgment’ but not surprised.

Spokesperson for the residents is Graham Usher.

“We’re extremely disappointed” he said.

“I appreciate the Supreme Court has given a judgement  on a point of law; but the fact of the matter is Tom McFeely is responsible for over 250 people being evacuated from their homes”.

“Almost 100 families 9 months on have no homes to go to”.

“They lived for 5 years basically in a death trap because of him, and he has escaped all punishment for this now” he added.

Treasury Holdings has lost a Commercial Court challenge to a NAMA decision to call in about €1 billion worth of loans and appoint receivers.

The court did find that Treasury Holdings had a right to be heard before NAMA decided to enforce about €1 billion worth of loans last December.

Ms. Justice Mary Finlay Geoghegan has concluded the State agency was in breach of its obligations to act fairly and reasonably in taking that decision without considering the fact there was investor interest in the loans.

However Treasury has lost out because it entered a 14 day stand-still agreement with NAMA last January not to oppose the appointment of receivers.

The judge has found NAMA relied on that agreement to its detriment as the developers did go to court to challenge receivership and now she has ruled it would not be equitable for Treasury to benefit from that breach so the developers lose the case.

The Central Bank says the persistent strains in financial markets are limiting Ireland’s prospects for economic recovery.

In its latest Quarterly Bulletin the bank is slightly revising upwards its growth forecast for this year to 0.7 percent compared to 1.4% in 2011.

However its projection of economic growth of 1.9% in 2013 is lower than its previous prediction for next year of 2.1%.

Central Bank Chief Economist is Maurice McGuire.

He says the deal reached by European leaders in June has not succeeded in resolving Eurozone market concerns.

“These persistent strains on financial markets not only have direct implications for the financing of government’s and banks, they are also damping down internal demand in Europe through their impact on consumer and investor confidence” he said.

“This is limiting the prospects for economic recovery – both in Europe and, given the small and very open nature of the economy, in Ireland also” he added.

There are reports from Norway that police are evacuating parts of Oslo after finding a suspicious object.

It is believed the area around the US Embassy and the adjacent Royal Palace are being evacuated after the device was discovered under a parked car.

The neighbourhood is also home to residential and office buildings.

Tributes are being paid to author and journalist Maeve Binchy who passed away yesterday.

The 72-year-old died in hospital in Dublin following a short illness.

The Taoiseach Enda Kenny says Ireland has lost a national treasure.

Whilst President Michael D. Higgins says she was an outstanding novelist who showed a great sense of courage in recent years and who never lost her sense of humour.

Maeve Binchy lived her life in Dalkey in Co. Dublin.

These local people say she will be sadly missed.

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