Ulster Bank intervenes in Sean Dunne bankruptcy case in US

Saturday 18 May 2013 22.36
Sean Dunne filed for bankruptcy in the US earlier this year
Sean Dunne filed for bankruptcy in the US earlier this year

Ulster Bank has intervened in the US bankruptcy of Irish developer Sean Dunne.

The bank has claimed that Mr Dunne filed for bankruptcy in the US to avoid the application of Irish law to an Irish citizen for debts and obligations accumulated in Ireland.

It maintains that every piece of real property and all bank accounts, with the exception of one with only $15 in it, are located in Ireland.

The bank said a parallel bankruptcy in Ireland is critical for the success of the case.

Ulster Bank secured a judgment against Mr Dunne for more than €150m and was seeking to serve bankruptcy papers on him, but it says he went to extraordinary lengths to avoid that.

Mr Dunne filed for bankruptcy in the US earlier this year, with a statement this month showing that he owes €718m to creditors, including Ulster Bank and the National Asset Management Agency.