A Co Kildare farmer has lost in an attempt to to set aside his bankruptcy at the High Court.
Paul O’Shea, of Davidstown, Castledermot, was jailed in July 2015 for 100 days for failing to comply with High Court orders to hand over vacant possession of farm buildings on his property to a receiver appointed by Danske Bank. The bank claims it is owed some €1.487 million by him.
He had previously spent 15 days in jail after being found in contempt of orders not to interfere with the receiver’s attempts to sell lands. He denied he was in contempt of court.
Mr O’Shea was adjudicated a bankrupt by the High Court on July 4th last following an application by Danske Bank. The bank petitioned for his bankruptcy after he failed to satisfy a judgment obtained against him in 2013 over his failure to repay the loans.
Petition
Mr O'Shea sought to have the adjudication set aside on a number of grounds, including the bank was not a creditor of his, he was not served with the bankruptcy summons and the petition did not comply with the Rules of the Superior Courts.
In her judgment on Monday, Ms Justice Caroline Costello rejected all the grounds raised. The adjudication was not improperly sought or obtained and she was not satisfied it should be annulled, she said.
Mr O’Shea has been before the courts a number of times following the appointment by Danske in 2012 of insolvency practitioner George Maloney as receiver over two large fields totaling 31 hectares and a number of storage sheds owned by Mr O’Shea.
He had put the property up as security on a 2003 loan, made by National Irish Bank and later taken over by Danske. Default on that loan lead to the bank getting judgment against Mr O’Shea.