Man who sought to conceal interest in 5m Dalkey property has bankruptcy extended – The Irish Times

The High Court has extended a businessmans bankruptcy to last a total of 13 years after finding he had endeavoured to conceal his interest in a 5.5 million Dalkey property.

Godfrey Lalor, who once owned a property on Sorrento Road, Dalkey, Co Dublin, was adjudicated bankrupt in June 2016. A year later the official assignee to the bankrupts property filed a motion seeking to extend the bankruptcy on grounds of non-cooperation and failure to disclose assets.

In a recent judgement, Mr Justice Richard Humphreys extended Mr Lalors bankruptcy to June 2029. The normal term of bankruptcy is for one year, but this can be extended in cases of non-cooperation or non-disclosure of assets, he noted.

Mr Justice Humphreys said he believes to be justified the official assignees characterisation of Mr Lalors approach to the situation as catch me if you can. The judge also endorsed as correct, the official assignees assertion that it is essential for the integrity of the bankruptcy process that a bankrupts obligation to cooperate fully and disclose everything in relation to assets is strictly enforced.

The judge noted that Mr Lalor had sought to conceal his interest in the Monte Rosa property on Sorrento Road to prevent it being realised for the benefit of his creditors. Further, some of the evidence given by Mr Lalor under cross-examination was misleading, while he also had failed to co-operate with the courts previous July 2021 conclusion, Mr Justice Humphreys said.

The judge also found that Mr Lalors assertions of lack of control over relevant corporate assets and accounts were lacking in credibility in all of the circumstances.

Mr Justice Humphreys said that near total non-cooperation would presumably warrant a near maximum bankruptcy period, and these circumstances come into the top bracket of the full 15-year period. However, the judge said he had regard to any limited elements of information arguably supplied by Mr Lalor, as well as any arguably relevant circumstances, in setting the term at 13 years. Mr Justice Humphreys was finalising a 2019 decision made by Ms Justice Teresa Pilkington to extend in principle the bankruptcy term.

View original post here:

Man who sought to conceal interest in 5m Dalkey property has bankruptcy extended - The Irish Times