It will be next week when we are set to finally get Sean Dunne’s financial statements which he is required to submit to the US bankruptcy court, and because it is the US, these are public documents and will be reported on here; there is much anticipation, though presumably it will be old hat to NAMA, to which Sean has previously provided a statement of affairs.
Meantime, we can bring you exclusive pictures of Sean’s home as set out in his bankruptcy filing – 526 Indian Field Road, Greenwich, CT 06830. Taken yesterday from the chopper – no, there were no speakers blaring out Wagner – and from a height of more than 800 feet so as to comply with local privacy laws, the pictures show an expansive home set in its own grounds in the enclave of Belle Haven in Greenwich Connecticut.
No-one was home yesterday, and indeed it emerged in the High Court in Dublin this week that Ulster Bank has been experiencing what were described as “difficulties” in serving bankruptcy papers seeking to make Sean bankrupt in Ireland. A red sedan was visible in the front forecourt though the property has three garages on one wing. Sean is understood to be still driving the Lexus SUV and Gayle, what NAMA described as a “luxurious” Cherokee.
The house is presently listed for sale by Sotheby’s International with an asking price of USD 8m (€6.2m). It sits on 2.5 acres. Sotheby’s says it has “a double-height great room w/fireplace, gourmet kitchen, formal dining room, family/theatre room, double offices. 8 bedrooms including a master suite w/marble bath, 3 dressing rooms, & balcony. First floor staff quarters. Lower level gym, storage space, laundry area, & bonus room. Pool, hot tub, & pool house w/full bath. Association private beach.” It has 24/7 security (no, not an alarm silly but a man in a sentry box). The property is owned by Alex and Irina Knaster who live in Kensington, west London.
“This is a commitment under the country’s agreement with the troika and is important in terms of investor perceptions of Ireland,” Mr. McDonagh said.
Ireland’s beleaguered construction sector represented just six per cent of the entire value to the economy last year, compared with 23pc during the heady days of the building boom in 2006.
This is €7.5bn of Irish bank debt going to pay international banks in the main German for losses incurred by Anglo and other banks.
If these foreign banks lost the money through bad deals, should we be handing over this money to them?