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Thursday 28 August 2014

Former GAA star could be jailed over bankruptcy

Aodhan O’Faolain & Ray Managh

Published 26/08/2013 | 16:40

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Cork v Wexford...10 August 2003; Paul Codd, Wexford. Guinness All-Ireland Senior Hurling Championship Semi-Final, Cork v Wexford, Croke Park, Dublin. Picture credit; Ray McManus / SPORTSFILE *EDI*
Paul Codd, Wexford

FORMER Wexford hurling star Paul Codd could end up being jailed for contempt of court unless he co-operates with the bankruptcy regime.

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Last March Codd, an All Ireland winner in 1996 and a former captain of Wexford, was adjudicated bankrupt by the High Court aruising out of his failure to satisfy a judgement for €530,000 secured against him in 2011

The Official Assignee in bankruptcy Mr Chris Lehane, who is the court appointed official whose role is to assist bankrupts in their obligations to their creditors, claims Mr Codd "is failing to engage" with him.

He told the High Court today that Mr Codd had also failed to complete a statement of his affairs as required under bankruptcy laws. 

Codd must also meet with the official assignee and provide him with all the necessary documentation and information so Mr Lehane could administer the former hurler's estate. 

If he refuses to co-operate Mr Codd would have to be questioned before the High Court about his affairs.

Mr Lehane said that should Mr Codd fail to attend court on the next occasion  required permission from the court to bring a motion seeking Mr Codd's attachment and committal to prison for alleged contempt.

Mr Justice John Hedigan said he was satisfied to grant the orders sought by the official assignee. The matter was made returnable before the High Court on October 14th next.

The Judge said Mr Codd must "face up to the realities" of  his bankruptcy and co-operate with the official assignee. "Bankruptcy," the Judge added, is "not a form of punishment" but a way people can "extricate themselves from financial difficulties”.

Mr Codd with an address given as Askinfarney, Clonroche.Co Wexford was not present in court.

A James McCarthy attempted to make representations on Codd's behalf but Judge Hedigan said that as Mr McCarthy was neither a solicitor or barrister he was not entitled to be heard.

The application to have Codd declared bankrupt was brought arising out of a sale by David Deasey a dairy farmer from Timoleague, County Cork, of 46 acres of land at Askinfarney Clonroche, Co Wexford, to Codd for approximately €800,000.

While a deposit of €40,000 was paid Codd had not completed the sale.

Mr Deasy obtained a judgement of €530,326 against Codd in 2011.When that judgment was not satisfied Mr Deasey petitioned the court to have Codd adjudicated bankrupt.

Codd's debts, combined with those of his now-dissolved company Paul Codd Ltd, are estimated to be approximately €4.9m.

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