Extension order for Dunne’s bankruptcy

A temporary order extending developer Sean Dunne’s bankruptcy has been granted by the High Court.

Mr Dunne was adjudicated bankrupt arising from default on loans of €164m issued to buy properties in Dublin by the High Court in July 2013.

The extension of the developer’s bankruptcy had been sought by the official in change of bankruptcy, Chris Lehane, for alleged non co-operation.

The developer was due to exit bankruptcy at the end of the month, counsel for Mr Lehane told Ms Justice Caroline Costello at the High Court yesterday. The judge granted the extension on an ex-parte basis, where only one side is present in court.

Counsel said solicitors acting for Mr Dunne had been informed of the official assignee’s intention to seek an extension.

The judge adjourned the case to October.

Under bankruptcy laws, the official assignee can seek and order from the High Court extending the period of bankruptcy for a maximum period of five years.

Ulster Bank had petitioned the High Court in February 2013 to have Mr Dunne adjudicated bankrupt here over default on loans of €164m. The following month, Mr Dunne filed for bankruptcy in the US state of Connecticut when he claimed to have debts of $1bn and assets of $55m. In July 2013, he was adjudicated bankrupt in Ireland.


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