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

ambrose_kelly

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

michael_ofarrell_AIB

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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