Sunday 30 April 2017

Hibernia Reit is dragged into Dunne bankruptcy battle in the United States

Gayle Killilea, wife of Sean Dunne, has asked a court in the US to subpoena Hibernia Reit senior advisor Frank Kenny Picture: Gerry Mooney
Gayle Killilea, wife of Sean Dunne, has asked a court in the US to subpoena Hibernia Reit senior advisor Frank Kenny Picture: Gerry Mooney
Ronald Quinlan

Ronald Quinlan

Hibernia Reit could potentially come in for scrutiny as part of Sean Dunne's US bankruptcy proceedings. Communications which took place between a number of its senior executives both before and after it was set up, may also be examined.

Last Thursday, the developer's wife, Gayle Killilea lodged a 'Notice of Issuance' with the courts in Connecticut, in which she asked that Hibernia Reit's senior advisor Frank Kenny be subpoenaed to testify at a deposition in Dunne's bankruptcy.

Lawyers acting for Killilea have sought all documents, communications and correspondence that mention an email Kenny sent to Hibernia Reit CEO Kevin Nowlan on July 17, 2011, at a time when Nowlan was still working as a portfolio manager for Nama and handling the affairs of her husband.

In that email - a copy of which has been submitted to the court - Kenny told Nowlan that: "I hear that our friend SD [Sean Dunne] is bidding for a [$]12m site on Long Island Sound in Rye, NY, to build two or three houses. This would be a third project - got to be running a $20/30m residential business at this point. Tough on those left unpaid in Dublin!!"

Sunday Indo Business

Promoted articles

Also in Business