Wednesday 23 October 2019

Dunne's 'trustee' is eager to quiz NAMA

Cormac McQuinn

Cormac McQuinn

THE court-appointed official handling bust developer Sean Dunne's US bankruptcy petition is seeking to question a representative of NAMA.

Trustee Richard Coan has asked for the judge's permission to subpoena a NAMA official because he says the agency "has information relevant to the assets of the debtor and/or transfers made by the debtor".

Mr Dunne, who moved to Connecticut after the collapse of his property empire in Ireland, filed for bankruptcy at the end of March with debts of more than $940m (€730m).

NAMA has been pursuing him through the Connecticut Superior Court over a €185m judgment it secured against him in Dublin's High Court.

NAMA claims Mr Dunne fraudulently transferred assets to his wife, Gayle Killilea. It alleges that a series of property deals made by her in the US were funded by cash originally earned by her husband, and that the couple enjoy a lavish lifestyle in the US while Mr Dunne's debts remain unpaid in Ireland.

The couple deny that Mr Dunne had any involvement in the property transactions.

Irish Independent

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