Property developer Tom McFeely has lost a High Court challenge against an order for possession of his family house in Ballsbridge.

Rejecting the appeal which was contested by the National Asset Management Agency (NAMA) Mr. Justice John Hedigan told the man behind the Priory Hall apartments that it is a sad and terrible thing when someone is put out of their home.

Mr. McFeely sat doing a crossword in The Irish Times as his barrister James Salafia looked defeat in the face from the very start of the appeal today.

"Rightful charge" from NAMA

The senior counsel conceded there is a conclusive High Court finding that NAMA has a rightful charge on the Ailesbury Road property seized last August following default on a €9.5 million mortgage.

The court heard while Mr. McFeely may complain bitterly about the alleged showmanship of that repossession all that was left to challenge was whether the Circuit Court order allowing the house to be seized would still be valid if it was made before the UK bankruptcy of the developer was annulled.

Dismissing the appeal Mr. Justice John Hedigan acknowledged that the loss of a family home is a sad and terrible thing but he said there was nothing he could do.