# Court rejects bankrupt's application for €1.2m living expenses



## Brendan Burgess (15 Apr 2010)

[broken link removed]is a very interesting decision and the judge's comments are also very interesting. 


> [The Judge said] Mr Murtagh would have to come to terms with the fact he was no longer  very wealthy and may have to reduce his living standards accordingly,  and consider a number of matters including whether he needed two houses,  the judge added.
> 
> 
> He found it hard to see how Mr Murtagh would  need to keep assets valued at €700,000-€1.2 million for “reasonable”  living expenses in the way that term is understood by ordinary people.  He could only imagine the sense of injustice investors would have if Mr  Murtagh were allowed this when they were left “high and dry” with €28  million owed.
> ...


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## Sunny (15 Apr 2010)

Yeah, the Judge seems to be taking a hard line. Amazing how the two properties managed to get transferred into the wife's name before the proceedings. These guys are still trying to stick two fingers up at the public.


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## Howitzer (15 Apr 2010)

Justice Peter Kelly.


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## runner (15 Apr 2010)

This sets down a very good precedent for the many developers & propery investors hearings coming down the line.
A good start!


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## Howitzer (15 Apr 2010)

Mr Justice Peter Kelly is the Chuck Norris of the Commercial Court. 

He's been laying down precedents, like Walker Texas Ranger lays down bad guys, for the past 18 months.


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