Business Irish

Thursday 20 June 2019

Dunne trying to thwart assets probe, court told

Orlaith Farrell Connecticut

BUST developer Sean Dunne wants to "stymie the investigation" into his assets and finances, a bankruptcy court in the US was told as it heard requests for the former developer to be held in contempt.

Court-appointed trustee Richard Coan has requested Mr Dunne be compelled to answer further questions as well as hand over visa and passport.

The court-appointed trustee has accused the former tycoon of failing to answer questions about the transfer of assets to his wife Gayle Killilea Dunne.

It's the latest blow to Mr Dunne's bid for a quick US bankruptcy and could potentially see the former 'Baron of Ballsbridge' fined and jailed.

The Carlow-born businessman filed for bankruptcy in the US at the end of March with debts of $942m (€718m) but was not in the Connecticut court yesterday.

Lawyers for NAMA, one of Mr Dunne's main creditors who have already formally objected to his discharge from bankruptcy, were in court to support the trustee's request.

The state agency claims that Mr Dunne fraudulently transferred assets to his wife Gayle, a claim the couple denies.

Judge Alan Shiff said he would consider the motion but set no date for a decision.

Irish Independent

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