Seán FitzPatrick due to exit bankruptcy next month

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Seán FitzPatrick is due to exit bankruptcy after the High Court granted an order on 26 May 2014 allowing more than €1.6m from his estate to be paid to Revenue. The payment was made on an interim basis, with Revenue identified to the court as a preferential creditor. FitzPatrick was expected to leave the bankruptcy process the following month once the official assignee was satisfied he had co-operated fully.

The court-appointed official assignee, Chris Lehane, made the application. FitzPatrick had been adjudicated bankrupt with debts reported at €147m and assets worth nearly €47m; the report said bankruptcy law had reduced the expected duration from 12 years to three.