Sir Anthony O’Reilly has been declared bankupt in a court hearing in the Bahamas and is now to be allowed file for an insolvency arrangement, the Supreme Court in the Bahamas has ruled. This followed a lengthy hearing on Friday when AIB, one of Sir Anthony’s creditors, had held that there were procedural errors in the existing filing and also that the court had no jurisdiction in the matter, the Irish Times reported. The ruling was delivered by Justice Milton Evans on Friday evening, following a day of legal submissions. He accepted that Sir Anthony should be declared bankrupt under Bahanian law. Sophia Rolle, one of three lawyers representing AIB at the hearing, asked Justice Evans to strike out the original and amended petitions of Sir Anthony on the basis that the proceedings were not properly placed before the court and lack of inherent jurisdictionRead more.