Limerick developer loses appeal relating to bankruptcy order

Property developer had argued the assessment or estimate of debt meant the amount was vague and uncertain, or that it had been incorrectly calculated

Promontoria issued a bankruptcy summons towards the end of October 2017 seeking payment of €20m said to be due in principal and interest on the loan accounts. File picture.

Developer Richard Dineen has lost an appeal related to the order of the High Court to adjudicate him bankrupt 18 months ago.

The Limerick developer had taken issue in the Court of Appeal with the figures used and calculated which grounded the petition resulting in an order for bankruptcy made in November 2019.