And then thinks better of it !
Property developer Sean Dunne has thrown in the towel on his attempt to walk away from about €700 million in debts through the US bankruptcy courts.
In a major victory for the National Asset Management Agency, his biggest creditor, Mr Dunne has abandoned his bid to seek a fresh financial start
Mr Dunne’s lawyer James Berman told a court in Connecticut that the US-based developer had “elected to waive his discharge [from bankruptcy].”
Another fine example of the keen analysis of the IT
. Seanie is no longer trying to proceed with the US process, so this is obviously a massive win for NAMA .... & then they include this quote in the same article
A hearing on whether he should have to hand over financial information to Nama – scheduled to be heard by the court – was “moot,” his lawyer told a US bankruptcy judge.
Now call me cynical; but I somehow imagine that this decision, is less about Dunne being scared of NAMA, & wanting to fess up to his debts; & more about a realization that proceeding in the US could well lead to a situation where "€700 million in debts", isn't as big a deal, as all those debts, plus 5 years inside a Federal Prison in the US, & being kicked out of the US at the end of the sentence, to return to Ireland, where he would also face criminal charges.