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Sean Dunne's bankruptcy....surely our government will take action?


Lumpy Talbot

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The US courts didn't seem to believe Drumm's and his wife's attempt at playing 'hide the lady' and called the maneouverings 'lies' when they were busily constructing a similar narrative in Massachusetts. I doubt a Connecticutt court would be that far off a Massachusetts interpretation of these 'transfers'.
 


jmcc

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Believe it or not that is the sort of shyte these people would get away with in an Irish courtroom.
Irish judges are political appointees. The US system may be slightly different.

I have my doubts they'll be pulling that rather thin wool over the eyes of a US court.
It might work with the gombeens in Dublin but in the US, financial cases are treated very seriously. This might be a bit of a culture shock for them.
 

stanley

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the transfer of more than €100m in assets to Ms Killilea "for no or nominal consideration", while NAMA alleges she is developing property with money fraudulently transferred from her husband.

Ulster Bank loaned Mr Dunne's holding company €326m in 2005 so it could buy three hotels in Ballsbridge, Dublin

Hotels

So Dunne bought the hotel on borrowings for 326 million plus, and then he gifted

a) the fixtures and fittings to Gayle, she leasing them back to Sean for €15,000 monthly
b) the trademarked names to Gayle, she leasing them back to sean for €2000 monthly

Meanwhile who was paying the borrowings. Ulster bank must have been fuming.

What's odd though is that Ulster bank later then bought the F&F off Gayle. (You of course cannot sell a hotel with those valuable assets, well you could, but it would descimate your asset. So maybe that's what that is about.)

Does this mean that when Ulster loaned the money to Dunne, they didn't 'tie up' the F&F and Tradename.

Yes, it would seem they had Ulster Bank's pants down and would agree it was not original thinking on a) and b) but rather copying from elsewhere.
 

Emily Davison

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Here's a frothy piece from their wedding at the height of the crazy boom in Ireland


Love the ending:


-----
And when the honeymoon is over, what next for Gayle?

"I'll never stop working," said Gayle. "I'll finish my exams - law is a good career for a wife and mother." In fairness, her voice was not full of the sound of money.

-----

How epic is that. It's all about the money darling....
 

stanley

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Here's a frothy piece from their wedding at the height of the crazy boom in Ireland


Love the ending:


-----
And when the honeymoon is over, what next for Gayle?

"I'll never stop working," said Gayle. "I'll finish my exams - law is a good career for a wife and mother." In fairness, her voice was not full of the sound of money.

-----

How epic is that. It's all about the money darling....
Presume she cannot practise in USA, doubt if her husband would employ her, would think he is having problems getting his end of the 60m off her.
 

Emily Davison

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The US courts didn't seem to believe Drumm's and his wife's attempt at playing 'hide the lady' and called the maneouverings 'lies' when they were busily constructing a similar narrative in Massachusetts. I doubt a Connecticutt court would be that far off a Massachusetts interpretation of these 'transfers'.
Hide the money you say:


ail.co.uk/news/article-1336211/Sean-Dunne-lives-8m-US-mansion-wife-builds-door.html
 

Emily Davison

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Presume she cannot practise in USA, doubt if her husband would employ her, would think he is having problems getting his end of the 60m off her.
That's the problem with rich developers transferring all the assets to the wifey for love and affection instead of in order to evade creditors . How ironic is that.


She moved to the UK in 2013
 
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stanley

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That's the problem with rich developers transferring all the assets to the wifey for love and affection instead of in order to evade creditors . How ironic is that.


She moved to the UK in 2013

‘I could live in Windsor Castle, what does that mean? That I have access to the Queen’s money? It might be jealousy on behalf of the Official Assignee or other people — but it doesn’t provide me with an income or an asset, and it doesn’t allow me to pay money to my creditors.’

Never any intention to pay creditors, his and her lifestyles always came first and telling anyone who would listen how great and important they were.

He wanted everyone to know he was the top developer in Dublin and what better way to publicise it than by riding the gossip columnist at the Sindo and put himself at the same level as Haughey, "sweetie".
 

stanley

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"Mr Dunne estimated that the gifts, originally intended to be profits from sale of various properties, but subject to change under the agreement, constituted about 20 per cent of his total wealth at the time"

The Dunner has a very high opinion of himself, he is saying he was worth 300m at the time but offers no proof to date, blames the media for all the secrecy.
 

Emily Davison

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The Dunner has a very high opinion of himself, he is saying he was worth 300m at the time but offers no proof to date, blames the media for all the secrecy.
High opinion!

He lives in a different planet. Directing that Charlie McCreevey deal with his estate in the event of his death.... So far up himself that he's completely delusional.

I loved the bit about the poor kids in the blow up beds. Comedy gold.

----


Bankrupt property developer Sean Dunne’s alleged political connections led him to seek assistance from former taoiseach Bertie Ahern in selling a South African resort in 2010, his US civil trial has heard.
The court also heard that Mr Dunne said in a handwritten will in 2007 that he wanted former minister for finance Charlie McCreevy and former attorney general Paul Gallagher to run his companies in the event of his death.
 
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stanley

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The IT has a story about him trying to get Bertie Ahern's help in 2010 on selling a property.

When Ahern was wrapping up, he somehow got invites to speak at House of Lords and US Senate, Dunne financed the trips and the parties held in London and Washington, but ultimately Ahern let him down, as he has always done to everybody, Ahern is a taker not a giver.

Yes, Dunne's ego is beyond words, he stated the OA, Lehane, was driven by his jealousy of Dunne.
 

jmcc

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When Ahern was wrapping up, he somehow got invites to speak at House of Lords and US Senate, Dunne financed the trips and the parties held in London and Washington, but ultimately Ahern let him down, as he has always done to everybody, Ahern is a taker not a giver.
Yep. That story about asking for change from buying some canvassers some fish and chips speaks to Ahern's grasping nature.

Yes, Dunne's ego is beyond words, he stated the OA, Lehane, was driven by his jealousy of Dunne.
Sounds like a bit of a master of his domain (Seinfeld ref) character. :)
 

Lumpy Talbot

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Interesting that Dunne would attempt to suggest McCreevy as someone suitable to manage his interests should he join the choir invisible.

Liked to live dangerously, this Dunne character, obviously. I'd be inclined to avoid the senior ranks of Fianna Fail myself but perhaps we have different due diligence systems.
 

stanley

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Interesting that Dunne would attempt to suggest McCreevy as someone suitable to manage his interests should he join the choir invisible.

Liked to live dangerously, this Dunne character, obviously. I'd be inclined to avoid the senior ranks of Fianna Fail myself but perhaps we have different due diligence systems.
Having the titles, MoF and EU Commissioner, also Ahern acting as a salesman would have been waved around like a great big dick by Dunne,, Padraig Flynn, Ray Burke and Liam Lawlor must have felt they were all qualified FF style, Dunne missed out of Haughey who would have been eminently suitable to his ways, so he settled for the deputy dawg, Ahern, but claimed the younger gossip columnist at the Sindo.
 

stanley

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"Asked by his lawyer Brian Spears how Ms Killilea and other family members reacted to Nama’s attempts to access their financial records, Mr Dunne replied: “They were insulted, to put it mildly. Why would they have to get dragged into anything to do with my business? They weren’t shareholders. They weren’t directors. They weren’t guarantors.”


Dunne was transferring monies and assets to them, so why would they be insulted.
 

Lumpy Talbot

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I'd say the time to get offended was when Mr Dunne engaged them in an asset-swapping exercise, not when the cops came calling.
 

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