A BUSINESSMAN who “forgot” to list dozens of properties in a statement of his assets has been given two more weeks by a High Court judge to explain why he should not be jailed over his failure to comply with court orders.

John O’Connor has failed to adhere to a June 2006 contract with Esso Ireland to buy a service station in Tallaght for €5.3 million. While Mr O’Connor had accumulated a “very large and global portfolio” of properties around the world, these had dropped in value considerably and a rent roll did not come close to meeting repayments sought from banks, his counsel, Colm Mac Eochaidh SC, said yesterday. Mr O’Connor, who has paid some €1 million of the €5.3 million contract, needed more time to prove that “if he could write the cheque” for the money owed to Esso, he would, counsel added.

Allowing two weeks to Mr O’Connor to provide the information, Mr Justice Peter Kelly said there were “disturbing aspects “to the matter, including [that] Mr O’Connor last year bought, out of his working capital, shares in CRH and Smith Nephew while he was also consenting to orders requiring him to make payments to Esso”. A previous affidavit of assets of Mr O’Connor’s was so incomplete, the court found it difficult to believe Mr O’Connor could genuinely forget such information, the judge added. However, he was glad that, since the matter was before the court last week, there had been progress. A meeting had taken place between the sides and proposals were discussed. Esso wanted information related to those proposals and the court would allow that.

Mr O’Connor, of Clonskeagh, Co Dublin, is facing two motions from Esso for his committal to prison for contempt of court orders, including alleged failure to fully discover his assets. Eamon Marray, for Esso, said neither Esso nor the court had enough information to know whether Mr O’Connor was either unable or unwilling to perform the contract.