Judgment reserved in Sean Dunne bankruptcy

Barrister Barra McGrory for Mr Dunne said it is part of their case that the behaviour of the Offical Assignee (OA) Chris Lehane during the process fell far below what was expected and should not accept his request to inflict punishment on the businessman.

Counsel said any extension to Mr Dunne's bankruptcy would amount to a breach of his property rights.

Mr McGrory was making submissions on behalf of Mr Dunne on what was the 8th and final day of the hearing of an application by the OA to extend the businessman's bankruptcy for alleged non-operation with the process.

Counsel said Mr Dunne (pictured) had "not ignored his Irish bankruptcy," as was claimed and had, in fact, opposed it in the Irish courts, given that he was subject to a dual bankruptcy in the United States at the same time.

In relation to Walford, a property acquired in 2005 for €58m by Mr Dunne in trust, he claims for his wife Gayle, counsel said it has always been the businessman's belief it never formed part of his estate .

Mr Dunne should be given "the benefit of the doubt" in relation to his evidence concerning claims he had not co-operated in respect of Walford, counsel said.

In reply, Mark Sanfey SC for Mr Lehane said the OA rejects all of the businessman's claims.

Counsel said there had been no co-operation by Mr Dunne until early 2016, some two years after he was adjudicated a bankrupt, in order to secure his discharge from the process.

Counsel said that after that date there was some co-operation but it was not sufficient.

At the conclusion of submissions yesterday (Fri) Ms Justice Caroline Costello said she was reserving her decision. The Judge said she was conscious the matter was time sensitive and she would try to give her decision as soon as possible.

Mr Dunne's Irish bankruptcy was due to expire July 2016 but has been extended pending the outcome of the hearing to decide if any extension, which can be for a maximum five years, should be granted.

In 2013 Ulster Bank petitioned the High Court to have Mr Dunne adjudicated bankrupt here after he had defaulted on some €164m loans.

Mr Dunne later filed for bankruptcy in Connecticut in the United States, when he claimed to have debts of $1bn and assets of $55m.

Arising out of that application a US bankruptcy trustee was appointed by a US court. In addition, the Irish bankruptcy proceedings continued and in July 2013 the Irish High Court adjudicated Mr Dunne bankrupt.