Bid to set aside Dunne’s asset transfer

The official in charge of Sean Dunne’s bankruptcy has launched High Court proceedings aimed at setting aside the bankrupt businessman’s transfer of an interest in a €17m-€18m South African hotel to his wife Gayle.

The court heard yesterday that Chris Lehane, the official assignee administering Mr Dunne’s bankruptcy, wants to set aside 2005 and 2008 transactions between the Dunnes in respect of the Lagoon Beach Hotel in Cape Town.

Mr Lehane told the court he had significant concerns about the agreements, which, he believed, had been conducted when Mr Dunne was unable to pay his debts as they fell due. In particular, the 2008 transfer had been done at a time when he had significantliabilities in Ireland.