Sean Dunne wants freedom from ‘shackles of bankruptcy’

It is of “paramount importance” to Seán Dunne “to get free of the shackles of bankruptcy”, lawyers for the developer have told the High Court.

William Fawsitt BL, for Mr Dunne, said his client considers he is the “most co-operative bankrupt under scrutiny” and is very anxious that an application to extend his Irish bankruptcy, which Mr Dunne opposes, is heard.

Mr Fawsitt opposed an application by official assignee (OA) Chris Lehane, the official administering Mr Dunne’s Irish bankruptcy, for an adjournment of the extension application to allow the OA consider materials filed by Mr Dunne last week in opposing it.

Having heard both sides, Ms Justice Miriam O’Regan said she would adjourn the matter to November 14th.

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

Temporarily extended

Mr Lehane earlier this year initiated the bankruptcy extension application over alleged non-cooperation by Mr Dunne with him.

Mr Dunne’s Irish bankruptcy, due to expire last July, was temporarily extended pending the outcome of the full hearing concerning whether any extension, which can be for a maximum five years, should be granted.

Mr Dunne was at the Four Courts on Monday.

In court, Mark Sanfey SC, for Mr Lehane, said Mr Dunne attended for examination at the OA’s office on June 29th last and last Wednesday delivered a 28-page affidavit and considerable documents. Mr Lehane sought consent to an adjournment of the extension hearing to consider those materials, but no consent was forthcoming.

Mr Dunne has had four months to consider documents from Mr Lehane’s side, but it seemed the OA was expected to respond to these materials over two working days, said Mr Sanfey.

Mr Dunne’s examination represented his first substantial assistance to the OA as he previously failed to provide detailed responses to requests for statements of affairs and other information.

While Mr Dunne responded to requests for further information, there were “still gaps”, Mr Sanfey said. Mr Dunne had agreed to provide the OA with letters of consent in relation to information sought from various financial institutions, but inquiries needed to be made in that regard and the matter was still in progress.

Second interview

Mr Lehane has yet to put on affidavit his view of what Mr Dunne’s examination means in relation to the application to extend his bankruptcy, Mr Sanfey added.

Mr Fawsitt said while it had been argued his side has had four months, they anticipated Mr Dunne would have a second interview with the OA which would have shortened the matters that had to be addressed in the recent affidavit.

His client had taken a “very firm” stance in opposing adjournment of the extension hearing for reasons including he considered he has been the “most co-operative” bankrupt ever under scrutiny, said Mr Fawsitt.

Mr Dunne also offered in January 2014 to be interviewed by Mr Lehane in the US but that offer was not responded to, said Mr Fawsitt. Mr Dunne wanted his “financial liberty”, had provided a 28-page affidavit dealing with Mr Lehane’s claims and it was of “paramount importance” to him “to get free of the shackles of bankruptcy”.

In reply, Mr Sanfey said Mr Lehane needs to make inquiries concerning what is happening with the US bankruptcy.