The bankruptcy of the director of a real estate fund cannot go ahead

Mount Street Mortgage Servicing Limited (MSMS) has filed a petition to have both men declared bankrupt.

Last April, the petition concerning Mr Mullin (60), with an address in Donnybrook, Dublin, was dismissed with the consent of him and the company.

However, Mr Fund continued to oppose the bankruptcy proceedings.

The petition against Mr Fund, from Kilternan, County Dublin, will be heard on July 22.

On Monday, Fund’s attorney Keith Farry told the court that the terms of the settlement had been discussed between his client and MSMS.

He asked Judge Liam Kennedy to take up the matter on July 15 so an update could be given on the implementation.

Úna Nesdale, attorney for MSMS, said the disputes between the parties have subsided and the attorneys can inform the court within two weeks whether the hearing on the petition will go ahead or be dismissed.

The judge has placed the case on the docket as requested.

The petition follows the High Court judgment that MSMS obtained against Mr Fund and Mr Mullin for approximately €2 million.

The judgment, delivered in April 2022, arose from guarantees in relation to loans for the purchase of properties in Ballsbridge from the National Asset Management Agency.