Itās a lot of moneyā ā judge aghast at legal fees in former developer Sean Dunneās US Supreme Court case
A US bankruptcy judge has expressed concern about proposed ā¬1,660-an-hour fees and a ā¬92,000 retainer sought by a law firm being drafted in to fight Irish property developer Sean Dunne in the United States Supreme Court.
Judge Julie Manning described the hourly rate sought by one lawyer as āa lot of moneyā, saying: āI donāt know that it is necessary under these circumstances.ā
It is the third time the judge has Ācriticised legal costs in the protracted bankruptcy, which have exceeded ā¬12m.
Mr Dunne, once dubbed the Baron of Ballsbridge, filed for bankruptcy in 2013 in Connecticut, where he was living at the time. He had debts of ā¬700m.
At a hearing in the US state on Tuesday, Judge Manning said she would need more information before Ādeciding whether to grant an application by bankruptcy trustee Richard Coan to hire Washington DC law firm Cooper & Kirk to oppose appeals lodged by Mr Dunne (69) and his ex-wife Gayle Killilea (48).
Both are challenging aspects of a 2019 finding by a US jury which made Ms ĀKillilea liable to pay ā¬18m in Ādamages to the trustee for fraudulent transfers she received from her ex-husband.
Despite the judgeās concerns, Carlow-born Mr Dunneās largest creditors Nama and Ulster Bank have supported Mr Coanās application. The two creditors will foot 97pc of the legal bills if the appointment of the firm is approved.
It was revealed yesterday one of the lawyers Mr Coan wants to hire, Charles J Cooper, is seeking his ācustomary billing rateā of $1,795 (ā¬1,660) an hour, while two other attorneys at the firm charge $1,095 (ā¬1,010) and $775 (ā¬720) an hour.
The rate sought by Mr Cooper is three times that currently being charged by a āspecial counselā working for Mr Coan.
The US Supreme Court has asked the trustee to file a response to petitions for certiorari ā a writ by which a higher court reviews a case tried in a lower court ā filed by Mr Dunne and Ms Killilea before it considers whether to accept their appeals for hearing.
Lawyers for Mr Coan said the trustee wanted to hire a firm with Supreme Court experience and claimed the rates being charged were not out of line.
āIt was the trusteeās decision that he proceed in the Supreme Court with experienced, sophisticated court counsel,ā said Timothy Miltenberger, a lawyer for the trustee. But Judge Manning said: āThat doesnāt mean it is acceptable to have somebody bill almost $2,000 an hour and ask for a $100,000 retainer when all you are doing is replying to a petition for cert at this point.ā
The judge said there were āa lot of firms that would do Supreme Court work for less than thatā. However, Hank Baer, a lawyer for Nama and Ulster Bank, said his clients were āwholeheartedly in support of the applicationā.
āUltimately we came to the conclusion that it is absolutely critical for the estate that this be granted. We do so not lightly as it is a meaningful expense,ā he said.
āBut we also think it is absolutely critical when going before the Supreme Court that the trustee is represented by counsel who has experience and expertise in the area. Supreme Court litigation is very specialised. There is an expense that comes with that.ā
Judge Manning said she would need an outline of any fees and expenses the firm has already incurred, as well as written confirmation no retainer has been paid, before making her decision.
In 2021, the judge was critical of the unauthorised hiring, by lawyers for the trustee, of financial consultants to look into Mr Dunneās solvency between 2008 and 2010. She also expressed concerns at the time about the overall cost of pursuing Mr Dunneās assets, saying that at some point a ācost-benefit analysisā would have to be done.
Is he actually properly separated from the wife? I canāt help but feel itās all a bit contrived to put distance between him and the assets.
Either way itās mad that itās still going on.
Iād say itās a fictional separation. Heās some gowl. Sure if heād played ball heād be back on his feet and coining it again like the rest of them.
One of the most ignorant cunts on the face of the earth by all accounts so not surprising.
A stones of a man and one of the trickiest punters youād ever come across in the Celtic Tiger which is saying something
The wife is a piece of work too.
An ideal partner in crime.
Indeed.
Theyāre as skint as they are separated.
Mick Galwey and Ronan OāGara were at the wedding.
Performing?
Did Dunne actually make any wise investments? Or just hide behind limited liability?
Didnāt Johnny Ronan buy a few prime properties in London which were given away by Nama for fuck all?
He personally guaranteed it all more or less
He had plenty success before he went bust he developed most of the area in booterstown near raddissson st Helens. Also had massive successful development in Lucian and greystonesā¦all in a rising market mind youā¦just gambled it all then and blew the whole lot
He seems to have quite the budget for a lad who āblew the whole lotā
Looks like the Press Up lads have flown too close to the sun.
Did they open the Leinster Hotel on Mount Street during the summer there? Iāve heard its a disaster and may well sum up some of the way they completely lost the run of themselves
You couldnāt distinguish one from another for a finish. Seeing a bar or restaurant is Press up owned would actually make me reconsider heading into it
They did and they had a rooftop restaurant that involved in some way New York celebrity chef Jean Georges Vongerichten that got very good reviews.
Seems very trendy to hate on Press Up but they did a nice job with a lot of their places.