Court blocks bankruptcy exit by developer Thomas McFeely

Case adjourned to October after bankruptcy trustee argues Priory Hall developer failed to disclose all his assets

Thomas McFeely. Photograph: Collins Courts

Thomas McFeely. Photograph: Collins Courts

 

Priory Hall developer Thomas McFeely will contest an application to extend his bankruptcy by five years.

The application has been brought on grounds including his alleged failure to disclose all his assets, the High Court has heard.

Mr McFeely (67) was adjudicated bankrupt in Ireland in July 2012 and his bankruptcy is due to expire on Thursday, July 30th this year.

Chris Lehane, the official administering the developer’s bankruptcy, claims Mr McFeely has not been co-operating and, in those circumstances, has applied to the court to extend the bankruptcy by an additional five years

The matter was mentioned briefly before Mr Justice Caroline Costello at the High Court on Monday.

Edward Farrelly, for Mr Lehane, said his client wanted a order preventing Mr McFeely’s discharge from bankruptcy until his client’s application to extend the bankruptcy has been heard and determined.

Counsel said he was seeking the order to restrain the July 30th discharge because is being sought because it would not be possible to hear the full matter before July 30th.

Lawyers for Mr McFeely said their client is contesting Mr Lehane’s application and wants the matter heard as soon as possible. The developer was not in court and is believed to be residing outside the jurisdiction.

Ms Justice Costello said she was satisfied to make an order preventing Mr McFeely exiting bankruptcy until the matter is heard. She also adjourned the matter to October.

Refusing an application by Mr McFeely’s lawyers to fix a hearing of the motion during August or September when the court is in recess, the judge said the matter was not so urgent it required to be heard during the vacation.

Previously, the court was told Mr Lehane was seeking a five year extension over the alleged non co-operation of Mr McFeely with the bankruptcy and alleged failure to disclose assets.

When adjudicating Mr McFeely bankrupt in July 2012, the High Court noted he has substantial debts here, including €200 million in Nama.

He was previously adjudicated bankrupt in England and Wales by a London court but that decision was rescinded after a woman owed €100,000 by companies of Mr McFeely brought proceedings here.