Lawyers for Sean Dunne have told the High Court they intend to bring an application aimed at overturning the decision to declare him bankrupt.

Mr Dunne was adjudicated bankrupt by Ms Justice Elizabeth Dunne at the High Court on Monday.

Ulster Bank, supported by NAMA, had applied to court for the developer to be adjudicated bankrupt over a debt of €163 million arising out of unpaid loans for property's in Dublin.

The now US-based developer was not in court for the hearing.

However, in a brief hearing lawyers representing the Co Carlow-born businessman told the judge their client wants the declaration of bankruptcy set aside.

Mr Dunne's representatives have two weeks in which to file the necessary paperwork outlining why he says the declaration should be reversed.

The Judge adjourned to matter to 14 October, when the new legal term commences.

The declaration by Ms Justice Dunne formed part of parallel applications to have Mr Dunne adjudicated bankrupt in both the US and Ireland.

Mr Dunne, now living in Greenwich, Connecticut, has filed for bankruptcy in the US. He claims to have debts of $1 billion and assets of only $55 million.

Following an application by Ulster Bank the US court appointed trustee managing Mr Dunne's US bankruptcy ruled parallel proceedings would benefit Mr Dunne's creditors as the vast majority of his properties are in Ireland.

In proceedings before the High Court on Monday lawyers for Ulster Bank said they were satisfied Mr Dunne was fully aware of the proceedings and he had done everything he could to thwart them.

The court heard a petition for bankruptcy in Ireland had to be pinned to the front door of the Dunne home in Connecticut after Mr Dunne's wife Gayle Killilea would not accept service of the papers for her husband.

A US Marshall had approached the Dunne home as she got into an SUV. Ms Killilea said her husband was away for a few weeks before driving away.

The Marshall then pinned the Irish bankruptcy petition to the front door.