Saturday 10 December 2016

Former hurler Paul Codd returns farm machinery leased by bank

Tim Healy

Published 21/07/2015 | 02:30

Paul Codd
Paul Codd

High Court proceedings against former Wexford hurler Paul Codd over failure to return €460,000 worth of farm machinery leased by a bank have been struck out, after a judge was told the vehicles were handed over at the weekend.

  • Go To

Separate proceedings relating to machinery leased by another financial institution were adjourned to next week.

Mr Codd, an All-Ireland medal winner, was freed from jail last Friday after undertaking to co-operate with the official administering his bankruptcy and to facilitate the handover of farm machinery and other vehicles leased by Deutsche Bank Leasing Ireland.

He had been jailed over contempt of orders and undertakings to co-operate with official assignee Chris Lehane.

Yesterday, Ms Justice Caroline Costello was told that assets had been seized and the proceedings involving Deutsche Bank could be struck out.

The court further heard that Friends First Finance was optimistic of recovering the machinery and the case could be put back for a week.

Mr Codd, of Askinfarney, Clonroche, Co Wexford, was adjudicated bankrupt at the High Court in March 2013 over failure to satisfy a judgment secured against him in 2011 for €530,000.

Previously, in December last year, Mr Codd was briefly jailed for two days for non-compliance with the bankruptcy process.

He was freed after giving undertakings to co-operate with Mr Lehane and return the leased machinery.

Farmer

Mr Codd's bankruptcy arose after David Deasey, a dairy farmer from Timoleague, Co Cork, sold Mr Codd 46 acres of land at Askinfarney, Co Wexford, for about €800,000.

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

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

High Court in March 2013 over failure to satisfy a judgment secured against him in 2011 for €530,000.

Previously, in December 2014, Mr Codd was briefly jailed for two days for non-compliance with the bankruptcy process. He was freed after giving undertakings to co-operate with Mr Lehane and return the leased machinery.

Mr Codd's bankruptcy arose after David Deasey, a dairy farmer from Timoleague, Co Cork, sold Mr Codd 46 acres of land at Askinfarney for about €800,000. While a deposit of €40,000 was paid, Mr Codd had not completed the sale, the court heard.

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

Irish Independent

Read More

Promoted articles

Editor's Choice

Also in Irish News