Seán Dunne has said it would be “beyond bizarre” for the High Court to strike out his application challenging the appointment of two officials overseeing his bankruptcy.

The 2014 proceedings concern an alleged fraudulent transfer of assets between the former spouses in a bid to beat Mr Dunne’s creditors. The allegations are strongly denied.

Mr Dunne was adjudicated bankrupt by the Irish courts on foot of a 2013 petition by Ulster Bank which claimed he had defaulted on some €164 million loans.

Gayle Killilea asked the High Court to dismiss the case that alleges Mr Dunne fraudulently transferred shares in a company called Mavior to her in a bid to defeat his creditors

Mr O’Connor, a separated father of three, was balance-sheet solvent with net assets of €594,000, but he did not have sufficient cash flow to make his debt repayments as they fell due.