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Sean Dunne’s Connecticut house, though there’s no-one home.
Sean Dunne’s Connecticut house, though there’s no-one home.
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.
via Exclusive! Sean Dunne’s Connecticut house, though there’s no-one home. | NAMA Wine Lake.
via Exclusive! Sean Dunne’s Connecticut house, though there’s no-one home. | NAMA Wine Lake.
Public not liable for massive debt
A letter to the Independent that is worth reprinting- short, concise and to the point
Between them Sean Dunne, Sean Quinn and Bernard McNamara have managed to run up debts of over €3bn. By some crazy notion we, the public, are being told we are to pay these debts back to the people that the above people got the money from.
The logic to this is way beyond my comprehension. How we even manage to discuss such a ridiculous scenario is way beyond me.
We, the public, have absolutely nothing to do with these debts – and the sooner we tell the people who loaned this money to the likes of the Seans and Bernards, the quicker we can get our lives back to where we can look forward and not be stuck in this cloud of negativity and depression.
Broomhall Business Park,
Nama case against Dunne and wife reaches stalemate –
THE NATIONAL Asset Management Agency case against Seán Dunne and his wife Gayle Killilea Dunne reached stalemate yesterday with the lawyers for the developer claiming Nama has no evidence against the couple, while those for Nama were granted more time to seek further documentation.
Nama is seeking to enforce a judgment for €185 million obtained through the Irish courts against the property developer.
Nama, operating as National Asset Loan Management Ltd in the US, filed papers in Stanford, Connecticut, in July alleging Mr Dunne and his wife had “utilised a number of lawyers . . . and shell companies to hide assets from creditors”, and asked Judge Douglas Mintz to freeze the couple’s assets. This request was refused on the grounds the documents provided by Nama were insufficient to prove its argument.
Nama subsequently served papers seeking access to documents from the real estate agency Sothebys relating to property deals in Connecticut that it believes will support its case. Lawyers for the Dunnes had objected to the subpoena but yesterday withdrew that objection.
Lawyers for Nama, who have not yet been able to access the documents they requested in July, had been expecting to argue that case before a judge yesterday morning.
Attorney Peter Nolin, representing Mr Dunne, told the court that all documents falling within the scope of Nama’s subpoena would now be produced.
The attorney representing Gayle Killilea, Philip D Russell, told reporters yesterday that the couple had originally intended to litigate against Nama’s request but subsequently decided against it.
“Sothebys will go ahead and furnish the documents. We walked away from that fight,” he said. Mr Russell went on to say that Nama was on “a fishing expedition” insisting there was no evidence to back up the agency’s claim.
Nama’s case hinges on a December 2010 “statement of affairs and declaration to Nama” signed under oath by Mr Dunne, in which he disclosed information concerning his financial affairs but omitted details of the transfer of his one half-share of an apartment in Geneva to his wife in February 2010, which he sold a month later for Swiss Francs 5.3 million (€4.7 million). The agency also alleges that the couple, operating through a string of limited liability companies, has bought and sold a number of properties in Conneticut using funds diverted from Mr Dunne’s former property empire.
Attorney Peter Nolin yesterday claimed that there were jurisdictional issues relating to the Geneva property and that Gayle Killilea Dunne had bought the Connecticut properties without involving her husband. “She has her own money,” he said.
via Nama case against Dunne and wife reaches stalemate – The Irish Times – Tue, Oct 23, 2012.
via Nama case against Dunne and wife reaches stalemate – The Irish Times – Tue, Oct 23, 2012.
