Former director of collapsed property development firm faces bankruptcy hearing over €1.85m debt

An application to have a former director of a property development fund adjudicated bankrupt over a debt of €1.85 million arising from a judgment obtained against him will be heard next month.

Stephane Fund (56), with an address in Kilternan, Co Dublin, was a codirector with a former Irish rugby international, Brendan Mullin, of Bisvale DAC, a property development fund that went into receivership in 2021.

Mount Street Mortgage Servicing Limited (MSMS) had brought petitions seeking to have both men adjudicated bankrupt.

The petition concerning Mr Mullin (60), with an address at Stillorgan Road, Donnybrook, Dublin, was struck out last April on consent of the company and Mr Mullin.

The petition against Mr Fund remains in the High Court bankruptcy list.

On the application on Monday of Úna Nesdale, for MSMS, and with the consent of Keith Farry BL, for Mr Fund, Mr Justice Liam Kennedy fixed a hearing date of July 22nd for the petition.

The petition arises after MSMS obtained judgment from the High Court for some €2m against Mr Fund and Mr Mullin in April 2022, arising from guarantees concerning loans made to buy properties in Ballsbridge from the National Asset Management Agency.

In a statement issued on behalf of Mr Mullin after the petition concerning him was struck out in April, a spokesperson said: “The proceedings against Brendan Mullin have been struck out and withdrawn. This addresses and expunges all actions between the parties, including the previous judgment order and concludes the matter. Brendan Mullin welcomes this satisfactory conclusion to the matter.”