Creditors seek $400,000 from O’Brien interest

A receiver appointed over certain assets of convicted fraudster Breifne O’Brien, whose creditors are owed some €12.8m, is hoping to secure over $400,000 from O’Brien’s interest in a US company, the Commercial Court has heard.

In the interim, Mr Justice Brian McGovern made orders permitting the receiver, solicitor Brian Quigley, to pay out to two creditors the net proceeds from a sum of $11,154 due to Mr O’Brien from an investment, plus a tax rebate due to Mr O’Brien for €2,197 and $380 in relation to other shares.

The creditors are brothers Louis and Robert Dowley who, in January 2009, were granted judgment for €3.013m against O’Brien, of Kilmore, Monkstown Grove, Dublin. He is serving a seven-year sentence after admitting multiple charges of multimillion-euro theft and deception totalling over €10m between 2003 and 2008.