Restaurateur Jay Bourke has been declared bankrupt by the High Court on the back of an application by the Revenue Commissioners over a tax debt of €558,000.
Mr Bourke (55) tried to secure a personal insolvency arrangement to reduce the bulk of his €13.7 million in debts, but this was withdrawn earlier this month after one of his creditors, Pepper Finance, which is owed €12.2 million, objected. Pepper’s debt related to a contingent liability arising from loans drawn from Bank of Scotland (Ireland) for the renovation of Bellinter House, the Co Meath hotel he co-owned. Mr Bourke had claimed that this debt was a contingent liability and had been paid in a full and final settlement with the €3 million sale of Bellinter House in 2016.
Jay Bourke operated popular bars and restaurants including The Globe and Rí Rá, Panti Bar, Eden Restaurant and Cafe Bar Deli.
The High Court heard on Monday that his tax debt dated back to the Celtic Tiger years.