A HIGH Court judge has approved the sale of property in Bray owned by former Anglo Irish Bank chairman Seán FitzPatrick.
A solicitor representing the court-appointed assignee given control over Mr FitzPatrick’s assets last year secured approval to finalise the sale of a property owned by Mr FitzPatrick at Camaderry Road, Bray, Co Wicklow.
The court heard the house was put up for auction and a reserve price set after an independent valuation was obtained. The house was sold last Tuesday, but approval from the High Court was necessary to finalise that transaction.
The price achieved at the auction was not disclosed in court but the reserve price is believed to have been about €300,000. Approval for the sale was granted by Ms Justice Elizabeth Dunne.
In a statement of affairs previously submitted to the court as part of Mr FitzPatrick’s bankruptcy proceedings, he said he had a rental income from apartments at Smithfield Market, Dublin, and Killiney Court, Killiney, and the three-bedroom house in Bray.
He is joint owner of his family home, another house in Greystones, Co Wicklow, and an apartment in Marbella, Spain, and he is estimated to have debts of €150 million and assets of €47 million.