It is not available online but yesterday in the Sunday Independent, Ronald Quinlan reported that NAMA has made a new application to the Connecticut Superior Court against Gayle Dunne (aka Gayle Killilea-Dunne or Gayle Killilea), the wife of developer Sean Dunne (aka “The Dunner” or “The Baron of Ballsbridge). Gayle, who is a former columnist in the Irish Independent, has reinvented herself as a successful residential developer in the north east USA and has been associated with American property transactions, including three where substantial profits were generated from the development of mansions in Connecticut and New York state. It seems a little sexist that she doesn’t have her own sobriquet so how about “The Dunnertrix”
NAMA made the new application on 1st November 2012 and it seemingly is related to the previous application which was withdrawn, according to the Independent, on 31st October 2012. The new application asks the Connecticut court to treat the case as a so-called “complex case” with a requirement for a four-week hearing. We don’t yet have the court documents, so at the moment are relying on the Independent.
It seems from court documents that NAMA has claimed the Dunnes “using the media in Ireland to argue that NAMA cannot prove its case” The article also quotes from the hearing in July 2012 where a clearly exasperated judge rebuked the “evidence” adduced by counsel for NAMA saying “you have me looking at newspaper articles”
It would be comedic if it weren’t for the fact that NAMA has a €185m judgment against Sean Dunne and nearly USD 10m was reportedly generated by companies associated with the Dunnes on three US property transactions. Representatives of The Dunnertrix have said that Gayle has her own money and the Dunnes are rejecting the suggestion that funds were improperly transferred from husband to wife with the intention of putting the funds beyond the reach of creditors. The Dunnertrix has also accused NAMA of undermining her reputation.
We don’t yet know if the Connecticut Superior Court is going to entertain NAMA’s application – certainly the Dunnes are dismissive of NAMA’s actions variously describing them as fishing expeditions and lawsuits about nothing. The US judge rejected an application by NAMA in July 2012 to freeze Dunne assets.
lets hope NAMA is not relying on the MonS recent article.
“10/18/2012 Sold $1,355,400 8.4% $300 Public Record”
http://www.zillow.com/homedetails/1-Hidden-Spring-Ln-Rye-NY-10580/32971672_zpid/
“The price rose several times before Jim Sandling forked out over $2.5m earlier this month.”
http://www.dailymail.co.uk/news/article-2224243/Yet-US-deal-nets-Dunne-700k-Wife-Gayle-signed-cheques-relating-demolished-historic-mansion.html
A bit odd its not recorded………..
Veterans day over here,a federal holiday,so most offices,courts etc. are closed.Trying to verify the sale price for the “Rye” deal as my info. conflicts with the Mail story.
It appears the the story may be incorrect,to date all available information indicate a sale last month at 1.3 and NOT 2.5 as reported,if correct kinda rubbishes the entire premise of the story,as it would have resulted in a loss.
Forwarding a copy of the deed,few other documents,if NWL would be so kind as to link them.
Not related to this post, but there seems to be an unrequited love thing going on for people with huge debts.
Their families are happy to receive huge gifts from them, but when these folk get into trouble, the giftees don’t return the love.
@Ahura M surely you are not suggesting that some Irish developers become “Indian Givers”…..
“Bartlett said the phrase was being used by children in New York to mean “one who gives a present and then takes it back”
http://en.wikipedia.org/wiki/Indian_giver