DEVELOPER’S “MOST UNUSUAL” PAYMENTS

TODAY PATRICIA DILLON, Senior Counsel for the Tribunal, cross-examined Owen O’Callaghan – the Cork based developer who, it has been alleged, paid bribes in the early 90s totalling IR£80,000 to the then Minister for Finance, Bertie Ahern.

AIB’S UNUSUAL MANNER

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.”

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.

THE AIB SHUFFLE

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 [...]

AIB BANKER DESCRIBES BARKHILL TAKEOVER

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

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 [...]