Ireland: Seán Dunne has 'created the illusion' he is poor, bankruptcy trustee tells court - - PressFrom - United Kingdom
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Ireland Seán Dunne has 'created the illusion' he is poor, bankruptcy trustee tells court

12:30  09 october  2019
12:30  09 october  2019 Source:   independent.ie

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Businessman Seán Dunne “misled” his Irish bankruptcy official and was “as obstructive as he could possibly be” in response to questions about dealings with a Dublin 4 property, the High Court has been told . Mark Sanfey SC, for official assignee Chris Lehane, who is administering his bankruptcy here

Businessman Sean Dunne has told the High Court that he co-operated with the official in charge of his Irish bankruptcy . Arising out of that application a US bankruptcy trustee was appointed by a US court . In addition, the Irish bankruptcy proceedings continued and in July 2013 the Irish High

Sean Dunne wearing a suit and tie: Bankruptcy: Businessman Seán Dunne had debts of €700m in 2013. Photo: Collins Courts © www.collinsphotos.com Bankruptcy: Businessman Seán Dunne had debts of €700m in 2013. Photo: Collins Courts A US bankruptcy trustee has accused Celtic Tiger property developer Seán Dunne of creating the "illusion" that he is impoverished.

The Carlow-born businessman, once one of Ireland's richest men, has claimed in court papers he is unable to comply with a US court order to pay an €8,500 legal bill because he is now earning just €200 a month.

Mr Dunne now risks being held in contempt of court for a third time in Connecticut, where he is embroiled in protracted bankruptcy proceedings. But trustee Richard Coan has disputed Mr Dunne's claims that he doesn't have the money and wants him held in contempt.

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The court -appointed trustee overseeing the US bankruptcy of property developer Sean Dunne intends to ask the American court ’s permission to Judge Alan Shiff said that he didn’t know whether Mrs Killilea Dunne “stands on her own feet as a creditor” in this case. He ordered Mr Dunne ’s lawyer

Businessman Seán Dunne has told the High Court he has never been the owner of, and has “zero interest” in, a Rejecting claims he has not co-operated with the bankruptcy process here, Mr Dunne said the property known as “Walford”, located on Shrewsbury Road, was bought in trust for his wife

Sean Dunne wearing a suit and tie: Seán Dunne Seán Dunne In a court filing last month, which has been seen by the Irish Independent, Mr Coan said Mr Dunne was "simply ignoring" the court order, which required him to make a contribution to the trustee's legal bills. He also claimed Mr Dunne had "spent decades arranging his financial affairs to create the illusion of his impoverishment".

Mr Coan urged the court "not to let itself be deceived" by Mr Dunne and asked it to consider that the developer had been able to hire an experienced trial counsel.

In a court filing last week, Mr Dunne claimed he was unable to pay the legal bill or make payments of €7,000-a-month into his bankruptcy estate, as he has been ordered to do by the High Court in Dublin.

That court heard he had salaries of $120,000 (€109,300) and €12,000-a-year from two companies.

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The bankruptcy trustee also has certain powers to avoid any preferential transfers or improperly executed security interests. If you transferred property to someone else or paid back certain creditors you prefer over others (such as family members) before filing bankruptcy , the trustee may be able to

Businessman Sean Dunne has told the High Court he has never been the owner of, and has "zero interest" in Under cross-examination, Mr Dunne accepted he had dealt with assets belonging to his wife based in the A US bankruptcy trustee was appointed in respect of Mr Dunne by a US court .

Sean Dunne wearing a suit and tie: Gayle Killilea, above with Seán Dunne, argued Walford on Shrewsbury Road, Dublin Gayle Killilea, above with Seán Dunne, argued Walford on Shrewsbury Road, Dublin But Mr Dunne now claims his sole source of income is just €200-a-month he receives for consultancy work for Amrakbo, a company his wife, former socialite turned property developer Gayle Killilea, is involved in.

The row comes just months after a US jury found Mr Dunne fraudulently transferred millions of euro to Ms Killilea. She has now been ordered to pay €18m to the US bankruptcy trustee.

The couple relocated to the US in 2010 following the financial crash, but Mr Dunne filed for bankruptcy there three years later, with debts of around €700m. He was also adjudicated bankrupt in Ireland the same year.

A court heard in 2017 the couple had legally separated.

Mr Dunne says he now lives in London.

Sean Dunne et al. posing for a picture: Gayle Killilea with Seán Dunne Gayle Killilea with Seán Dunne In support of his application to have Mr Dunne held in contempt, Mr Coan pointed to a High Court ruling last year by Ms Justice Caroline Costello.

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Developer Seán Dunne has advanced no grounds for overturning his Irish bankruptcy , Ulster Bank Mr Dunne filed for bankruptcy in the US the following month when he claimed to have debts of billion Following a later application by Ulster Bank, the US court appointed trustee managing Mr

The official administering Seán Dunne ’s Irish bankruptcy has told the High Court the businessman did not co-operate with the process after being adjudicated The level of co-operation from Mr Dunne contrasted with that given by former Anglo Irish Bank chairman Seán FitzPatrick, whose estate was

The judge said it appeared from information available to the Official Assignee in Bankruptcy that Mr Dunne's normal personal expenses were "being paid other than from his salary". She said there was evidence of lavish expenditure by Mr Dunne, though this may have been paid by his wife or a company she owns.

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