Developer Sean Dunne documents reveal debts of 718 million euro – with assets of just 41 million

The property developer Sean Dunne has filed an Assets and Liabilities statement as part of bankruptcy proceedings in the United States.
The documents reveal debts of 718 million euro – with assets of just 41 million.
His legal team meanwhile says Mr Dunne will be entitled to keep his 1 million dollar pension fund from DCD Builders.
Sean Dunne’s legal team submitted the 53-page statement to a Court in Connecticut last night.
It reveals that he owes 718 million euro- over 450 million of which are to unsecured creditors.
Ulster Bank are owed 282 million euro – and NAMA over 150 million.
The bankruptcy filing reveals that he earns 22,000 dollars per month from Mountbrook USA – a company he set-up but claims to have no control over.
Mr Dunne also lists 30 million euro worth of property in Ireland – and season tickets for Twickenham and Millenium Stadium in Cardiff – worth a combined total of 4-thousand-9-hundred euro.
The submission also shows a 1 million dollar pension with DCD Builders construction company.
Mr Dunne now looks set to keep control of that fund – with his legal team saying it cannot be pursued under US bankruptcy law.


Top Stories