Contestation aimed at invalidating alleged fraudulent property transfers made by Seaán Dunne significantly influenced his bankruptcy proceedings in the United States.
In 2013, a jury in the district court in Connecticut found in favour of Richard Coan, who alleged that Sean Dunne had fraudulently transferred assets worth millions of dollars to Gayle Killilea [1]. This was just the beginning of a complex transatlantic legal battle that continues to unfold.
The Revenue Commissioners in Ireland were among the parties contacted by the trustee's lawyers, as the case against Sean Dunne took place in the US courts while overseeing the estate of the high-profile Irish property developer [1]. Work was done to keep abreast of what was happening in Ireland.
The assets of Sean Dunne, as indicated in Richard Coan's final report, were significantly less than his debts, which involved hundreds of millions of euro [1]. The €14 million secured in 2013 from the sale of Walford was a significant part of what remained of Sean Dunne's wealth. Priority claims agreed were $925,306 for Gayle Killilea and $1,948,764 for Jennifer Coyle [1].
Nama and Ulster Bank were creditors in this case, with Nama receiving $6 million on a claim of $438 million, and Ulster Bank receiving $6 million on its claim of $428 million [1]. Among the assets transferred was the proceeds from the sale of Walford, a house purchased by Sean Dunne and Gayle Killilea for €58 million eight years earlier.
The US bankruptcy trustee, Richard Coan, realized $20.9 million (€18.1 million) from a fraudulent conveyance claim against Sean Dunne in the US courts [1]. The legal firm Cohn Birnbaum & Shea was engaged by Richard Coan in 2022 to work on the Dunne case [1]. The gross receipts from the case taken against Sean Dunne accounted for a significant portion of what was available for his creditors, amounting to $27.5 million.
As of August 2025, Sean Dunne's bankruptcy case remains active with ongoing legal proceedings on both sides of the Atlantic. His bankruptcy status in Ireland has been extended to 2028 due to his non-cooperation with the Official Assignee, and he has launched several unsuccessful legal challenges against those managing his bankruptcy estate there [1]. In the United States, Dunne's bankruptcy estate, overseen by a trustee in Connecticut, has disclosed assets amounting to just $27.5 million to be distributed among creditors owed hundreds of millions, indicating a significant shortfall [2].
Legal proceedings against those overseeing Sean Dunne's bankruptcy estate continue, as the complex transatlantic nature of Dunne's insolvency continues to play out in the courts. The unresolved legal disputes in Ireland and asset recovery efforts under US bankruptcy rules for creditors owed substantial sums continue to shape the course of this protracted legal battle.
[1] [Source] [2] [Source]
The legal firm Cohn Birnbaum & Shea, engaged by Richard Coan in 2022, worked on the Dunne case where the assets of Sean Dunne, though significantly less than his debts, were still a subject of interest, particularly in regards to business and finance. The gross receipts from the case against Sean Dunne, including a fraudulent conveyance claim worth $20.9 million in the US courts, accounted for a significant portion of what was available for his creditors, suggesting a complex business and financial situation.
