Proceedings against bankrupt former hurling star Paul Codd over failure to return some €460,000 farm machinery leased by Deutsche Bank Leasing Ireland have been struck out at the High Court after the vehicles were handed over last weekend.
Mr Codd, an All-Ireland medal winner with Wexford, was freed from jail last Friday after undertaking to co-operate with the official administering his bankruptcy and to facilitate the handover of leased farm machinery and other vehicles.
Mr Codd had been jailed over contempt of orders and undertakings to co-operate with official assignee Chris Lehane but returned to court on Friday evening seeking to purge his contempt.
Mr Lehane had sought the jailing order after saying Mr Codd had not co-operated or returned nine items of machinery leased by Friends First Finance or €460,000 worth of farm machinery leased by Deutsche Leasing Ireland.
On Monday, Ms Justice Caroline Costello was told assets had been seized and the proceedings involving Deutsche Bank could be struck out.
The court also heard that Friends First Finance was optimistic of recovering its leased machinery and the case could be put back for a week when it will be mentioned before the court again.
Mr Codd, of Askinfarney, Clonroche, Co Wexford, was adjudicated bankrupt at the High Court in March 2013 over failure to satisfy a judgment secured against him in 2011 for €530,000. The combined debts of himself and his company, Paul Codd Ltd, are estimated at €4.9m.
Last Thursday, Ms Justice Costello made orders committing him to Mountjoy Prison to July 27th for contempt arising from refusing to answer questions about his assets put to him by Mr Lehane.
Previously, in December 2014, Mr Codd was briefly jailed for two days for non-compliance with the bankruptcy process. He was freed after giving undertakings to co-operate with Mr Lehane and return the leased machinery.
Mr Codd's bankruptcy arose after David Deasey, a dairy farmer from Timoleague, Co Cork, sold Mr Codd 46 acres of land at Askinfarney for about €800,000. While a deposit of €40,000 was paid, Mr Codd had not completed the sale, the court heard.
Mr Deasey obtained a judgment of €530,326 against Mr Codd in 2011 and, when that was not satisfied, petitioned the court to have Codd adjudicated bankrupt.
