The Panamanian Swindle and a Westmeath Man’s Bankruptcy

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The official who looks after bankrupts’ affairs is seeking to have the bankruptcy period of a Co Westmeath businessman extended over an alleged lack of cooperation and concerns about assets transfers, the Irish Times reported. The business affairs of Patrick J Daly include an investment in a property in Panama in 2006 that was lost through fraud, and which featured in a murder trial in the Central American country in which the fraudsters were convicted of murdering a local politician after he discovered what they were up to. The official assignee, Chris Lehane, is seeking an extension of the bankruptcy of Mr Daly, who resides at Ballinagore House, and who was made a bankrupt in November 2015 at the request of the Bank of Ireland. His wife, Anne Daly, was made a bankrupt in June 2016. Mr Lehane has concerns about the arm’s length nature of transactions in 2012 involving Ballinagore House as well as shares in a company called Star Alliance which owns property in Ballinagore, and an interest in an apartment in Marbella, Spain. Mr Daly rejects the concerns. Read more.