Sunday 17 November 2019

Sean Dunne appeals refusal to set aside Irish bankruptcy

Sean Dunne is pictured leaving the Four Courts yesterday after the opening day of a Supreme Court hearing. Mr Dunne is appealing the High Court’s refusal to set aside his Irish bankruptcy
Sean Dunne is pictured leaving the Four Courts yesterday after the opening day of a Supreme Court hearing. Mr Dunne is appealing the High Court’s refusal to set aside his Irish bankruptcy

Tim Healy

BUSINESSMAN Sean Dunne is appealing the High Court's refusal to set aside his Irish bankruptcy.

In December 2013, Mr Justice Brian McGovern refused to set aside the Irish bankruptcy, initiated by Ulster Bank in February of that year over default on loans for some €161m to buy properties in Dublin.

Mr Dunne filed for bankruptcy in the US state of Connecticut, where he was based, the following month.

He claimed there to have debts of $1bn and assets of $55m. In July 2013, he was adjudicated bankrupt in Ireland.

Lawyers for the now US-based developer have argued before the Supreme Court that the adjudication of bankruptcy cannot be allowed stand.

They cite reasons including that he had previously been deemed bankrupt by an American court.

Mr Dunne's lawyers say Irish bankruptcy laws don't allow for double or dual bankruptcy findings in different jurisdictions.

The application is being opposed by both Ulster Bank and Nama, which is Mr Dunne's largest creditor. The hearing continues.

Irish Independent

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