Friday 15 December 2017

Trustee asks judge to hold Dunne in contempt

Cormac McQuinn

Cormac McQuinn

IN the latest blow to bust developer Sean Dunne's bid for a quick bankruptcy in the United States, the court-appointed trustee has asked the judge to hold him in contempt of court.

Richard Coan, the bankruptcy trustee in the case, has sought the contempt ruling claiming Mr Dunne "stymies and obstructs" the investigation into his financial affairs.

If held in contempt, Mr Dunne could be fined and ultimately jailed if he fails to purge the contempt.

In papers filed last night, he accuses the builder of failing to answer questions about alleged transfers of assets to his wife, Gayle Killilea-Dunne.

And Mr Coan also says Mr Dunne has failed to produce requested documents, such as his US visa application and recent pay slips.

Mr Dunne filed for bankruptcy in the US state of Connecticut – where he now lives – at the end of March, putting his debts at more than $940m (about €730m).

He said he hoped to be debt-free in six months but that is looking increasingly unlikely as one of his main creditors, NAMA, has formally objected to his discharge from bankruptcy.

Irish Independent

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