Legal action against former All-Ireland winning hurler over failure to return €460,000 worth of farm machinery struck out
Published 20/07/2015 | 18:43
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.
Separate proceedings related 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 was jailed over contempt of orders and undertakings to co-operate with official assignee Chris Lehane but returned to court on Friday evening seeking to purge his contempt.
Mr Lehane had sought the jailing order after saying Mr Codd had not co-operated or returned nine items of machinery leased by Friends First Finance or €460,000 worth of farm machinery leased by Deutsche Leasing Ireland.
In court Monday, 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 when it will be mentioned before the court again.
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. The combined debts of himself and his company, Paul Codd Ltd, are estimated at €4.9m.
Last Thursday, Ms Justice Costello made orders committing him to Mountjoy Prison to July 27 for contempt arising from refusing to answer questions about his assets put to him by Mr Lehane.
Mr Codd was sent to prison after he failed to answer questions put to him by Mr Lehane who said Mr Codd had failed to disclose details about his assets.
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.