It has emerged this evening that, according to a statement of assets provided by businessman Breifne O'Brien to the Commercial Court today, he estimates his assets at €36m, while his liabilities amount to some €20m.
Mr O'Brien allegedly operated a ‘pyramid’ investment scheme over some 15 years, misappropriating millions from several investors to fund his personal lifestyle and business interests.
Today before Mr Justice Peter Kelly, Mr O'Brien supplied a three paragraph affidavit and statement of affairs to the court.
In his schedule of assets, Mr O'Brien disclosed some ten investors are suing him for €15m.
Mr O'Brien's listed assets include properties jointly owned with his wife, Fiona Nagle, including their family home in Glenageary, an apartment at Vico Road, Dalkey; a house in Barbados, an apartment in Sandyford, Dublin and a 20% share in three apartments under construction at the G Tower in Dubai.
Some of those assets are subject to bank charges.
His other assets include syndicated property investments in Berlin, Boston, Spain and Belize and several investments owned with others, including his father.
He has listed commercial property held in his own name at addresses in Monkstown, Sandyford, Reading and Paris. Other assets include personally owned shares in nominee accounts and in certificate form, including shares in several banks.
Further assets include art works valued at €50,000, an Aston Martin car valued at €70,000, €1.3m shares in Maltese Holdings, Jersey, and €2.2m in Fund Investments Anglo Irish Private.
Mr O'Brien today agreed to the continuation by Mr Justice Peter Kelly of court orders restraining him from reducing his assets below €20m.
The wife of the prominent businessman is to seek an order varying the terms of a High Court injunction currently requiring him not to reduce his assets below €20m.
A barrister for Fiona Nagle told the court that one account currently 'frozen' is a family account which is held in both their names.
The court was told Ms Nagle has five children and this family account pays for the ordinary household expenses.
Ms Nagle will be seeking to vary the order made last December as she is ‘adversely affected’ by it.
The case will return to court next Monday.
The court previously heard that Mr O'Brien, Silchester Road, Glenageary in south Dublin has calculated his total liabilities to 11 people of between €16m and €19m.
The case first came before the High Court on 15 December 2008 when a solicitor for a number of investors sought an order freezing Mr O'Brien's assets.
Solicitor Brian Quigley gave details of seven people who had invested with Mr O'Brien, but who wanted their money back.
In an affidavit opened in court last month, Mr Quigley said Mr O'Brien told him he had been 'living a lie' for up to 15 years in relation to investments made for others, including long-time friends of his.
The court heard Mr O'Brien had allegedly appropriated some €4m to fund his personal and family lifestyle, a further €4m for payments of fictitious profits to other investors, €4m to keep his business interests afloat and a similar sum to fund the purchase of various properties.
