Judge says former Wexford hurler must ‘face up to the realities’ of bankruptcy
Paul Codd, Wexford captain and All-Ireland winner in 1996. Photograph: Cyril Byrne
The bankruptcy case of former Wexford hurler Paul Codd was raised in the High Court in Dublin yesterday.
Last March Codd, an All-Ireland winner in 1996 and a former captain of Wexford, was adjudicated bankrupt by the High Court arising out of his failure to satisfy a judgment for €530,000 secured against him in 2011.
The official assignee in bankruptcy Chris Lehane, who is the court-appointed official whose role is to assist bankrupts in their obligations to their creditors, claims Mr Codd “is failing to engage”. He told the High Court yesterday that Mr Codd had failed to complete a statement of his affairs as required under bankruptcy laws.
Mr Justice John Hedigan said Mr Codd must “face up to the realities” of his bankruptcy and co-operate with the official assignee. “Bankruptcy,” he added, was “not a form of punishment” but a way people could “extricate themselves from financial difficulties”. Mr Codd, Askinfarney, Clonroche, Co Wexford, was not in court.
The application to have Mr Codd declared bankrupt was brought arising out of a sale by dairy farmer David Deasy, Timoleague, Co Cork, of 46 acres at Askinfarney to Mr Codd for approximately €800,000. While a deposit of €40,000 was paid, Mr Codd had not completed the sale. Mr Deasy obtained a judgment of €530,326 against him in 2011.