A HIGH Court judge has warned a businessman he will go to jail unless within 15 days he provides a full statement of his assets, which include dozens of properties here and in several countries.
Mr Justice Peter Kelly yesterday made an order for the jailing for contempt of John O’Connor over his failure to provide adequate personal financial information to Esso Ireland, which is suing him over his alleged failure to honour a 2006 contract to buy the site of the Esso service station in Tallaght for €5.3 million.
However, the judge said he would put a stay on the order for 15 days to allow Mr O’Connor, “Salzburg”, Ardilea, Clonskeagh, Dublin, one last chance to provide a full statement of his assets.
Mr O’Connor claims that, while he has a very large and global portfolio of properties, he cannot pay the €4.3 million still outstanding on the contract because the value of those properties had dropped considerably, and rental income did not come close to meeting repayments due on them.
He has estimated his assets now at about €133.3 million, and “known liabilities” of €168.9 million.
He says he has a personal income of €90,000 a year, and cannot complete the Esso contract immediately.
Two weeks ago, Mr Justice Kelly said he would make an order, sought by Esso, for Mr O’Connor’s committal to prison if he failed to supply adequate information about his financial affairs. Mr O’Connor told the court previously he “forgot” to list dozens of properties in a previous statement of assets.
Yesterday, James Connolly, for Esso, said Mr O’Connor’s latest information about his finances raised as many questions as it answered.
Missing were such basic matters as the addresses of certain properties, and he was still “bewildered” by Mr O’Connor’s approach to the matter, counsel said.
Mr O’Connor’s counsel said they had only received a response from Esso’s lawyers to the latest information last Friday, and would have been able to clarify the queries raised had they had more time.
Counsel asked for more time.
Mr Justice Kelly said Mr O’Connor had been given ample opportunity to provide the material, particularly in circumstances where he had “welched” on agreements he made with Esso in April and November last.
While he would be justified in sending Mr O’Connor to jail because he had “behaved disgracefully”, the judge said his approach was not to punish but to persuade.
“He seems to think he can fob me and the plaintiff off on an indefinite basis, but I am going to disabuse him of that,” the judge said.
He ordered Mr O’Connor’s committal to prison but put a stay on that order until March 23rd, by which time Mr O’Connor must have supplied a satisfactory statement of means to Esso.
The parties could also engage in an on-the-record questions-and-answers session to clarify any issues, and a transcript of that session could be supplied to the court on the next date, the judge said.
