Property developer Sean Dunne is to go ahead with his efforts to be declared bankrupt in the United States, despite a recent attempt to have his case dismissed.

The developer has debts of around €700m and his entitlement to bankruptcy has been challenged by the National Asset Management Agency and Ulster Bank.

Mr Dunne originally filed for bankruptcy in the US courts in March 2013.

He was subsequently declared bankrupt in Ireland in July 2013, following an action taken by Ulster Bank in the High Court in Dublin.

But in August this year, after already protracted legal proceedings in the bankruptcy court in Connecticut, he began an action to try to have his US bankruptcy application dismissed.

That request was challenged by his biggest creditors, NAMA and Ulster Bank, and by the court-appointed trustee.

They made arguments that dismissing his bankruptcy would not be in the best interests of his creditors, to whom Mr Dunne owed considerable sums.

In the latest development, Mr Dunne has decided to go ahead with his bankruptcy hearing.

Legal papers lodged with the court did not give any reason for his change of mind. His bankruptcy hearing is expected to be heard in early January.