Dunne did not co-operate, court told
The official administering Seán Dunne’s Irish bankruptcy has told the High Court the businessman did not co-operate with the process after being adjudicated bankrupt here in 2013.
While there was some co-operation in 2016, that was “wholly deficient” and the non-co-operation had lead to the application to extend the bankruptcy by five years, official assignee Chris Lehane said.
Mr Lehane said he had not been provided with the detail necessary for him to administer the bankrupt’s “large” estate.
The level of co-operation from Mr Dunne contrasted with that given by former Anglo Irish Bank chairman Seán FitzPatrick, whose estate was also “sizeable”, after he was adjudicated bankrupt, Mr Lehane said.
The businessman denies he has not co-operated with Mr Lehane and is opposing the latter’s application to extend his bankruptcy.
Mr Dunne’s Irish bankruptcy was due to expire in July 2016 but continues pending the outcome of the hearing before Ms Justice Caroline Costello concerning whether any extension, which can be for a maximum five years, should be granted.
Ulster Bank petitioned the High Court in February 2013 to have Mr Dunne adjudicated bankrupt here over default on some €164 million loans.
The following month, Mr Dunne filed for bankruptcy in Connecticut, US, when he claimed to have debts of $1 billion (€807 million) and assets of $55 million.
In 2016, Mr Lehane initiated the bankruptcy extension application due to Mr Dunne’s alleged non-cooperation.
The hearing continues today.