A court case to determine the potential bankruptcy of business tycoon and former Irish rugby star, Brendan Mullin, has been moved to the following month due to an unresolved debt claim of €1.8m. The delay was granted on Monday by Justice Liam Kennedy, extending the time-frame for the submission of additional legal documents.
The case has been initiated by Mount Street Mortgage Servicing Limited (MSMS), who are petitioning for insolvency proceedings against Mr Mullin (60) and his former business partner, Stephane Fund (56). Both individuals used to reside in Dublin and were directors of a property growth initiative, Bisvale DAC, which entered receivership in 2021.
MSMS claim an outstanding debt of roughly €1.85m, following a High Court judgement in April 2022 which demanded a fee of around €2m from both Mullin and Fund. The funds were initially secured to purchase properties in Ballsbridge, facilitated by the National Asset Management Agency.
In the bankruptcy case aimed at Mullin, MSMS allege that he demonstrated an act of bankruptcy in the wake of an execution order issued in April 2023 against his assets which was returned as “No goods – Nulla Bona” in July 2023 by the Dublin city Sheriff. They insist no payments have been received to reduce the debt since.
Within legal documents, Mr Mullin denies committing an act of bankruptcy and insists that the execution order from April 2023 was retracted in July of the same year, and that it was returned to MSMS’s solicitors. On these grounds, he argues that there hasn’t been a bankruptcy act within the definition of the Bankruptcy Act.
The solicitor working on MSMS’s behalf, has disputed this claim in an affidavit insisting Mullin’s reversal of the execution order is not correct. Previous postponements in January and last month were to allow for the exchange of legal documents. When the case returned to Justice Kennedy this previous Monday, Una Nesdale BL, on MSMS’s behalf claimed that legal documents had been exchanged per court orders and requested more time to provide another affidavit. The next hearing is set for April 15th, as permitted by Dan O’Mahony BL, Mullin’s counsellor.
During the postponement announcement, High Court Judge Kennedy, who previously held a solicitor position, mentioned to both parties he vaguely recalls representing Mr Mullin about two decades ago in a planning issue. He clarified that his past role wouldn’t influence the case, but still felt the need to inform the individuals involved. They will assess this information before the case is scheduled for a court hearing next month.
In addition, listen to the Inside Politics Podcast for the most recent discussions and evaluations. Subscribe to receive direct notifications on your mobile phone containing top news, valued analysis, and commentary. Stay current by accessing The Irish Times via WhatsApp.