Ulster Bank has secured permission to issue proceedings outside Ireland against developer Seán Dunne as part of its efforts to recover a €163 million loan.
Mr Dunne allegedly executed guarantees over the loan for the redevelopment of the Jurys Hotel site in Dublin, the Commercial Court heard. The bank claims, on foot of guarantees of March 8th, 2006, Mr Dunne was responsible for repayment of a €163 million loan made to DCD Builders Ltd.
Yesterday, Mr Justice Peter Kelly gave the bank leave to serve Mr Dunne with notice of the proceedings at an address at Indianfield Road, Greenwich, Connecticut, US.
If there was any difficulty in effecting personal service of the proceedings alternative orders could be made in court.