Dunne’s liabilities don’t quite add up

If you are unfortunate enough to be a creditor of Sean Dunne and need to calculate exactly what he owes you ‘do the math’, as the Americans say, because sums aren’t his thing.

In his bankruptcy proceedings in the US, Dunne estimated his assets at between $1m-$10m, but under US bankruptcy law he is not required to provide details of these.

He admits to owing “between $500m and $1bn (€390m-€780m)” and the indications are that his level of indebtedness could be far more. He really hasn’t a clue and appears to be far less stressed than your average Irish homeowner in negative equity.