Anglo successfully contested Sean Quinn’s bankruptcy in Belfast and subsequently Sean was bankrupted in Dublin. Bank of Ireland successfully contested Brian O’Donnell’s bankruptcy in the UK, and it remains to be seen what happens now in Ireland. On the other hand, although Anglo kicked up a stink about David Drumm’s Massachussets bankruptcy, that was not overturned in Massachussets on jurisdiction grounds though it remains mired in legal battle with uncertainty over David’s eventual discharge.
It looks like there is going to be a battle royale over Sean Dunne’s bankruptcy with Ulster Bank – RTE and the Irish Times and the Irish Independent report on the proceedings – this morning signaling it wanted to serve Sean at an Irish address after what the Irish Times reports as “difficulties” in serving the bankruptcy papers on Sean in Connecticut; remember last week, the Sunday Independent’s Ronald Quinlan claimed that Ulster Bank had a man on the ground in the US for six weeks attempting to serve Sean with the bankruptcy papers, before Sean himself filed for bankruptcy on Good Friday.
It is unclear what exactly transpired this morning. It seems that the matter – which was signaled in press reporting but wasn’t shown on the daily list for the courts today – has been adjourned for a week by Ms Judge Elizabeth Dunne, the no-nonsense judge who sent the Quinns to jail for contempt last year. It seems that a full bankruptcy hearing will be heard at the end of May 2013 when the Judge will be asked to adjudge Sean bankrupt in Ireland.
It seems that Ulster Bank is claiming or is going to claim that Sean’s centre of main interest is in Ireland and not in the US, and Ulster Bank this morning said that Sean was only living in the US on a temporary visa. It is believed Sean will vigorously contest any attempt to prevent his US bankruptcy from proceeding and will deny claims that his centre of main interest is in Ireland.