DEVELOPER Sean Dunne's bid to overturn an Irish court's decision to declare him a bankrupt will be heard early next month.
Last July, US-based Mr Dunne was adjudicated bankrupt by Ms Justice Elizabeth Dunne at the High Court.
Ulster Bank, supported by NAMA, had applied for the developer to be adjudicated bankrupt over a debt of €161million arising out of unpaid loans for properties in Dublin.
However, Carlow-born businessman is seeking to have the declaration set aside. Ulster Bank is opposing the application.
Earlier today, Mr Justice Daniel Herbert fixed November 7 next as the date of the hearing of the application.
Bill Shipsey SC for Mr Dunne, and Lyndon MacCann SC for Ulster Bank agreed the matter would take two days to hear.
The court also heard the matter will involve "issues of international law."
Yesterday Mr Shipsey raised a concern Mr Dunne has in relation to the management of one of his properties between now and the adjudication of his application to have the bankruptcy ruling set aside.
However the court appointed official dealing with his bankruptcy, Official Assignee Chris Lehane, told the court the rental income from the particular property was being paid into an escrow account (an account in the custody of a third party), pending the outcome of the next month's hearing.
This step had been taken in the full knowledge of the US-based court appointed official managing Mr Dunne's US bankruptcy, he added.
Last July's declaration of bankruptcy here formed part of parallel applications to have Mr Dunne adjudicated bankrupt in both the US and Ireland.
Mr Dunne, now living in Greenwich, Connecticut, has filed for bankruptcy in the US. He claims to have debts of $1bn and assets of only $55m.
Following an application by Ulster Bank, the US court appointed trustee managing Mr Dunne's US bankruptcy ruled parallel proceedings would benefit Mr Dunne's creditors as the vast majority of his properties are in Ireland.