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Ulster Bank to go ahead with bankruptcy proceedings against Dunne

Ulster Bank is pushing ahead with bankruptcy proceedings in Ireland against property developer Se...
Newstalk
Newstalk

12.52 22 Jul 2013


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Ulster Bank to go ahead with b...

Ulster Bank to go ahead with bankruptcy proceedings against Dunne

Newstalk
Newstalk

12.52 22 Jul 2013


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Ulster Bank is pushing ahead with bankruptcy proceedings in Ireland against property developer Sean Dunne.

The High Court has heard that a moratorium on the petition was lifted by a judge in the United States last week.

The case was on hold while the businessman filed for bankruptcy in the US.

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However Ulster Bank, which has a €164-million judgment against Mr Dunne, applied to the court in Connecticut for permission to continue with the case in Ireland.

The court acceded to the request and last week ruled against Mr Dunne who had sought a stay on the judge’s order pending an appeal.

Judge Shiff noted that almost all the businessman’s assets and creditors are in Ireland.

The High Court was today informed of the latest developments.

Lyndon MacCann SC for Ulster Bank told Ms Justice Elizabeth Dunne that papers were served at Mr Dunne’s US attorney’s office and at a residential address late last week.

A postman confirmed he had delivered post ‘for a man with an Irish accent’.

Ulster Bank was granted a 1 week adjournment. It is looking for a hearing date in early October.

Mr MacCann said there was a 5-year time limit on the bank examining certain financial transactions and that limit would expire at the end of October.


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