independent

Monday 21 April 2014

Sean Dunne bankruptcy hearing to go ahead in Ireland

Sean Dunne

BANKRUPTCY proceedings in Ireland against Sean Dunne will go ahead, a judge in the United States has ruled.

A hearing on a move by Ulster Bank to have Mr Dunne declared bankrupt in Ireland is due to take place on Monday in Dublin's High Court.

Mr Dunne filed for bankruptcy protection in the US three months ago and has been. attempting to stop proceedings going ahead in Ireland.

Ulster Bank filed a motion with the bankruptcy court in Connecticut asking that it be allowed to serve papers on Mr Dunne and continue proceedings in Ireland.

In an initial ruling, Judge Alan Shiff sided with Ulster Bank but Mr Dunne appealed. Judge Shiff has now turned down that appeal.

Judge Shiff, in his ruling, said bankruptcy proceedings in Ireland began six weeks before Mr Dunne filed for protection in the US.

The judge also said almost all of Mr Dunne's assets are in Ireland, as are most of his creditors.

Mr Dunne listed debts of over Euro700m when he filed for bankruptcy in the US at the end of March.

Ulster Bank, one of Mr Dunne's main creditors, will now be able to serve papers and continue moves to declare the former developer a bankrupt in Ireland.

The trustee appointed to oversee the US bankruptcy case will start working in tandem with administrators in Ireland.

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