independent

Thursday 17 April 2014

GAA star jailed for failing to co-operate with bankruptcy

Hurler Paul Codd was released from jail after High Court hearing today to spend Christmas with family

Former Wexford hurling star Paul Codd. Credit: Pat Murphy / SPORTSFILE

Former all-Ireland Wexford hurler Paul Codd was allowed to return to his family today after having spent a weekend in Mountjoy Prison.

 

Codd, a former Wexford captain, was taken to jail from his home on Saturday morning last after having been arrested by gardai for failing to co-operate about his affairs with official bankruptcy assignee Chris Lehane.

After telling Mr Justice Kevin Cross in the High Court that he would make a statement to Mr Lehane, and having made a sworn affidavit in the courtroom, the judge told him he could go home.

Tax cheat TD Mick Wallace attended court and sat beside Codd before and during the hearing. Although he spoke with Codd in court he played no part in the proceedings.

Garda Sergeant Tom Murphy, of Clonroche Garda Station, told the court he had called to Mr Codd’s home on Saturday last and following a brief conversation with him at his front door arrested him and transported him to Mountjoy Prison.

Mr Lehane, who is the court-appointed official whose role is to assist bankrupts in their obligations to their creditors, said Mr Codd had been arrested on foot of a warrant issued on October 14 last for failing to co-operate with him regarding his assets and liabilities..

He told Judge Cross he had spoken to Mr Codd in court and Mr Codd had assured him he would now fully co-operate with him.  He asked the judge to briefly adjourn the matter to just before lunch by which time he hoped to have a statement of Mr Codd’s affairs completed.

Barrister Conal Ellis, counsel for Friends First Finance, said Mr Codd had gone guarantor for 10 items of plant and machinery leased by the bank.  Despite a court order those assets had not been returned to the bank and he was anxious to proceed with recovery of them.

When Judge Cross told Codd the motion before the court was an application to put him in prison for contempt of court orders directing him to engage with the official in charge of his bankruptcy, Codd said he was now prepared to co-operate with Mr Lehane “to the best of my ability.”

Last March Codd, of Askinfarney, Clonroche, Co Wexford, was adjudicated bankrupt by the High Court arising from his failure to satisfy a judgment secured against him in 2011 for €530,000.

The application in March to have him declared bankrupt arose out of a sale by David Deasey, a dairy farmer from Timoleague, Co Cork.  He sold Codd 46 acres of land at Askinfarney for about €800,000 and, while a deposit of €40,000 was paid, Codd had not completed the sale.

Deasey obtained a judgment of €530,326 against Codd in 2011 and when that was not satisfied 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 €4.9 million. 

After taking statements Mr Lehane and Mr Ellis told the court Codd had promised to fully co-operate in the future. The matter was adjourned until January 19.

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