AIB’S UNUSUAL MANNER

richard forman dublin castle apr 08

TOM GILMARTIN’S former business partner, Richard Forman (above), told Tribunal counsel Patrick Quinn SC of “undue pressure” brought to bear by AIB against Gilmartin, the original planner of the Liffey Valley Centre.

Gilmartin, who owed the bank 4.5 million pounds, “was placed under undue pressure to transfer his equity.”

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LIFFEY VALLEY ARCHITECT TELLS ALL

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PATRICIA DILLON SC, Counsel for the Tribunal, asked Quarrvale architect Ambrose Kelly why he had not provided any documentation required by Order for Discovery relating to his dealings with Liam Lawlor, Frank Dunlop or Owen O’Callaghan from 1990 to 1992.

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AIB CLIQUE CLAM-UP CLAIMING NO CLUE

Co-Chairman of the Inquiry, Judge Gerard Keys, found it remarkable that evidence from senior AIB bankers rarely strayed from their carefully prepared notes concerning several “stormy” meetings between AIB, Tom Gilmartin and Owen O’Callaghan.

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AIB BANKER UNAWARE OF PURPOSE BEHIND LOANS

COUNSEL for the Tribunal Patrick Quinn SC cross-examined Mr Barry Pitcher, a senior banker with AIB’s Corporate Management division, concerning Allied Irish Bank’s role in funding the Quarryvale development.

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BANKER’S MEMORY FAILS

David McGrath, AIB’s Senior Corporate Banker, was unable to recall any details of a meeting he had with Thomas Gilmartin in Luton Airport following the embittered developer’s threats to go to the press concerning the “systematic bribery of Councillors for the purpose of securing rezoning”.

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THE AIB SHUFFLE

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MR PATRICK QUINN SC for the Tribunal quizzed AIB banker Michael O’Farrell concerning his role, in a transfer of shares to each of two other shareholders in Barkhill Ltd; Tom Gilmartin, a 40% shareholder, gave evidence that this was done without reference to him.

The secret transfer meant that for a brief period of time, AIB had a shareholding in Gilmartin’s company of less than 20% and thus dodged registration with the Companies Registry Office. The bank’s share was subsequently returned to 20%.

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FINE GAEL LADIES GO TO LUNCH

Mary Elliot

“how many developers did you go out with in 1993 Ms. Elliott?”

Fine Gael Councillor Mary Elliot leaving the Tribunal

MS MARY ELLIOTT, a Fine Gael councillor (1985-1993), was questioned by the Tribunal’s Counsel Patricia Dillon SC as to why she neglected to mention to a Fine Gael internal inquiry her meetings with developer Owen O’Callaghan.

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Flynn kept Gilmartin’s ‘donation’ in his home safe

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FORMER FIANNA FAIL MINISTER and MEP Padraig Flynn accepted today that he received 50,000 pounds but insisted it was a donation intended to cover elections costs.

“In those days, there was no rule concerning how much one could receive as a donation.”

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IRISH LEADER CALLS FOR TRIBUNALS TO BE SCRAPPED

THE TAOISEACH told Sunday Independent editor Aengus Fanning, it was time to abolish the law instating Tribunals of Inquiry: “I think the time has come to scrap them (tribunals) and the 1921 Act. It is an Act from the British time, it is an Act from a time when there was no fairness or justice for the small people. So it is my belief that the 1921 Act should be scrapped.”

Mr. Ahern noted: “The reality of the situation is that 100 years ago it was Parnell, 10 years ago it was Clinton, today it’s me and tomorrow it will be somebody else.”

He said: “In my view the time has come for a review, and I hope my successor in government will do that at an earliest time.”

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AIB BANKER DESCRIBES BARKHILL TAKEOVER

Kay tells of O’Callaghan’s buy-out of Gilmartin’s share of Quarryvale

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Eddie Kay at the Tribunal

This week the Tribunal cross-examined former AIB banker, Edmund Kay, about the Quarryvale land deal and its major players.

AIB held a 20% interest in the project, which would eventually become the Liffey Valley Centre in West Dublin. A 40% share was held by each of two rival developers, Tom Gilmartin and Owen O’Callaghan.

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