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The unanimous decision from the 10-person jury was the result of a five-week civil trial.
Dunne said the property was bought in trust for his wife Gayle.
South Africa’s top court made the decision last week.
The court has also ordered the former developer to produce more financial documents within the next two weeks.
Ulster Bank is awaiting the outcome of an appeal on a US court ruling before it can serve the property developer in Ireland.
A court ruling in the US is a blow to the former property developer who owes millions to Ulster Bank.