Dan White: 'How Ballsbridge bankrupted Sean Dunne' - Indep...

Dan White: 'How Ballsbridge bankrupted Sean Dunne'  Independent.ie

Bankrupt property developer Sean Dunne’s financial problems can be traced back to his decision to pay a total of €380m for the former Jurys and Berkeley Court Hotels in Ballsbridge in 2005. Most of the purchase price was borrowed from Ulster Bank. Even at the time, right at the peak of the Celtic Tiger property mania, it was widely felt that Dunne had paid way over the odds. A newspaper vox pop of rival property investors, conducted just after the deal had been announced, revealed that most them reckoned that Dunne had overpaid by at least €100m. Dunne’s plan was to transform Ballsbridge in...