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NEW ALLEGATIONS ABOUT Denis O’Brien’s finances have been made in the Dáil by Social Democrats TD Catherine Murphy.
Speaking under Dáil privilege this afternoon, Murphy claimed that O’Brien offered to guarantee a €5 million loan to property developer Paddy McKillen in 2012.
Murphy said that the loan was subsequently granted and occurred at a time when the men already had “huge” and “significant” debts to the Irish Bank Resolution Corporation.
“Essentially, a man with huge debts to IBRC was granted a loan from the IBRC on the guarantee of another man who owed significant sums to IBRC while there were questions over both men’s financial ability to fulfil original loan agreements with IBRC,” Murphy said.
The Kildare North TD said that the €5 million loan stemmed from a “cash flow problem” McKillen had “following his unsuccessful litigation against the Barclay brothers”.
Murphy said that O’Brien informed former IBRC director Tom Hunersen and former IBRC chief executive Mike Aynsley that he was willing to guarantee the loans.
She added that these men were “directly connected” to the deal that saw O’Brien purchase Siteserv from IBRC.
In further discussing the billionaire’s finances, the deputy also raised questions about the loan given to him by AIB to purchase Siteserv.
“I also have a question on the provision of the loan by AIB, the bank that is 99% owned by the State, when the business sector in the country was screaming that it could not get credit just to get staff paid. The loan was paid to Mr. O’Brien to help facilitate the purchase of Siteserv,” Murphy said.
It is interesting to note that the AIB group chief credit officer at the time the loan was advanced went on after leaving AIB to join the boards of Siteserv, Topaz and the Beacon Hospital, all owned by Mr. Denis O’Brien. Why was that? My point has always been that while there may be perfectly legitimate answers to these questions, they stand out as very obvious questions to ask.
Previous allegations made in the Dáil by Murphy about O’Brien’s finances resulted in legal letters being sent to a number of news outlets after they reported what she had said.
O’Brien’s legal team had said that such reporting could be in breach of a separate injunction he had secured against RTÉ. O’Brien’s legal team subsequently said that they didn’t intend to stop TDs from making comments in the Dáil.
Murphy’s latest comments came as Dáil deputies were debating legislation that will give power to a Commission of Investigation into the sale of Siteserv by IBRC to O’Brien.
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I predict as we speak Denis O Brein lawyers are serving papers on Catherine Murphy.
Thankfully his efforts to silence her haven’t worked so far
I’m surprised we can comment on it to be honest. Normally these stories are locked down. Having said that I’m beginning to get the impression that O’Brien might not actually be worth as much as he’s telling the world he is. There seems to be an awful lost of money being shuffled about the place.
Catherine Murphy for Taoiseach,then again intelligence,honesty and integrity aren’t actually requirements for that role.
F/g are the cancer on Irish society allowing the likes of dob and noonans vulture friends to pillage our funds.
His lawyers are probably serving papers on The Journal.
Don’t be surprised if comments are closed.
You wont be disappointed, will you David.
How are there any red thumbs for this? Are there actually DOB sympathizers out there?
Hes a bit of a donald by the sounds of it
This story would definitely be a “lock down” on the indo.ie. He owns that too. As well as Newstalk 106 which has changed the morning lineup, and in my opinion, the new lineup absolutely sucks. Bye Bye Newstalk 106 in the morning, in my house now.
Seth of course there is, they’re called blueshirts.
Well done Catherine. When this is what’s going on and being facilitated. It’s shows what’s wrong with this country. You have the likes of him getting hundreds of millions of a writedown while also in the dail this morning, we heard how the irbc sold mortgages to vulture funds , with ex irbc people involved , kpmg. And amazingly even charitable funds . Something seriously wrong.
Looks like Catherine using burner phones is working. Sad that this is the case. That a td has to use burner on advise , in case her phones are bugged.
Here’s the part that was said in the dail today about irbc and mortgages. A letter that was read out by a td from someone he received it from. Hope the long post is ok.
I am an IBRC mortgage holder with a performing, just about so far, loan, that has just been sold to Mars Capital No.3 Limited, an unregulated fund. I stood outside the Dáil with other mortgage holders, trying to get this government to see sense but no, Michael Noonan had no regard for me or any ordinary person caught up in its liquidation of IBRC. So I wanted to know: who will I be dealing with. Who is Mars Capital No.3 Limited?
I did some research on cro.ie and discovered that Mars Capital No. 3 Limited had, until January the 15th, two directors – one of whom had the same name as a person who held a senior position in IBRC in the past. And was also, in the past, an employee of KPMG, the firm of liquidators. That surprised me. But I am an ordinary person who isn’t used to looking at company documents.
In recent days, that director stood down and another is appointed per new documents, lodged with the CRO. The other fact I discovered is that that company has three shareholders, all of them charitable trusts. Which I Googled and are associated, I think, with a Dublin legal firm. They are named Badb – I don’t even know how to pronounce this – Medb and Eurydice. What in the name of god has a charity to do with it? Who would use charitable trusts? Why use charitable trusts? Who owns my loan? I am still none the wiser. I believe this has to be examined.
Why hide behind charitable trusts? I took out my loan with a building society, not a charity. I stand to be corrected but the charitable trusts concerned may have been in the news in the past. I think I am at least entitled to know who owns my loan, considering my Government has done the selling.”
Paddy Ryan, there were a series of articles in the Phoenix magazine last year questioning Denis O’Brien’s finances and his ability to repay the colossal debts his empire carries. In particular it referred to the sell off of swathes of his companies and the disastrous attempted floatation of his Caribbean mobile business.
He would be better employed sorting out his businesses and paying his debts than having his flunkies threaten small media outlets and threaten the rights of our democratic institutions and public representatives. He may end up like “Sir” Anthony O’Reilly and Sean Quinn if he isn’t careful.
I reckon the red thumbs are Denis and his friends.
If someone gains a large sum of money from an illegal act would all investments made with this money be a matter for the criminal assets bureau?
Wouldn’t matter. Every excuse in the book is being used to stop CAB going near him.
The most amazing thing about this story is that the comments section is open….
That man is a cancer on the Irish people
timing is everything. Its interesting that the question of Endas leadership has come up this week. He knows whats happening with mr ob. Enda will retire, soon, and a massive exposè will ensue , about 4 weeks later. I just hope beyond hope whatever else Catherine Murphy discovers.. she gets something on hogan an kelly for being as equally ‘friendly’ with mr ob.
@enni, despite the truth, Kenny and fg/ff nailed the flag to dob, and here was me thinking Kenny had his eye on a position in the EU, hey phillip Hogan………..
No surprise in what Ms Murphy has to say. Well done her for raising important questions that need to be answered.
Corruption, corruption and the rewards of corruption, seems to follow this business man around. Everything he touches has a stench about it. Yet we still await the government allow the proper authorities to act in the wake of the findings of the Moriarity tribunal.
This corruption can only happen with the collusion of the government, particularly the FG party, who he bank rolls.
Another example of Corporate welfare, the sole interest of the neoliberal government of FG/FF.
What I find scary is that one man appears to be able to wield so much power. This should not be allowed to happen!
Let the rag indo spin this one.
I hope come next election the Social Dems are running candidates throughout Ireland. They would absolutely have my vote.
Im glad i used my vote wisely…
How many more stories have to come out about this parasite before something is actually done about him. As somebody wrote above he really is a cancer on Irish society.
And the toys in DOB’s pram are preparing themselves for eviction
As posts are being deleted, try here….. https://www.facebook.com/liam.deegan2?fref=ts
Liam Deegan is a journalist who has investigated much of the relationship between Government and Redacted.
Scroll down through his posts to get information regarding much of what is wrong with business and politics. I love his older posts about how many businesses were set up on the same day as Irish Water and on the same street and ended up with IW contracts. How loans were facilitated for someone who was in debt to buy companies that were in debt at a loss to the taxpayer.
So much stuff…….
Didn’t hear about that on RTE.
That DOB owed rag is not covering this story
Fair play The Journal for having the balls to leave comments open
Can we have some more….
Catherine Murphy is one of the best TDs we have at the moment.
FG responsible for outright Screwing of the people to enrich the elite in society.. FF put them back in to ensure the Status Quo remains.. We never learn.. Sigh..
gas when dob is involved an entire tread gets removed.
dob is there only because his paid handsomely insiders in fg/ff (cowen, you know who you are) have facilitated him, otherwise he would be a busted flush!!
I know…it’s really funny. A Taoiseach did end up working for Topaz and the Beacon……but it’s not allowed to be said …even though it was reported in the media.
This media….. http://www.thejournal.ie/topaz-brian-cowen-1445910-May2014/ ….lol
lets talk about football, and the ownership of clubs and land.
Good man Dinny.
Keep puffing on that Cuban and breaking your bollix laughing.
Should be named Su O’Brian.
I love her.
I just love her.
And yet you put it up as a cooment James. I don’t like what I see about the dealings of DOB, can I be sued for that? Is it possible I will be sued for boycotting his companies? See you in court so!
FF at 33% and FG at 24% in latest poll… seriously thought that it was the church that had a hold on the people in this country but these two corrupt organizations will be a lot tougher to crack. They are so deeply embedded in families it’s actually scary. That combined 57% aren’t all stupid or even gaining from the policies of FFG.
Its awful that TDs can make statements that are unsubstantiated in the Dail without any ability by the effected person to any ability to clear their good name. People like Catherine Murphy, Mary Lue McDonald and others are shameful in their use of Dail privilege. If their statement are fact they should make their statements in public.
Too much starch in your blueshirt makes you uncomfortable.
Ah you lost me power abbey when you call Catherine Murphy shameful for bringing this up in the dail in relation to an inquiry the dail is debating about irbc and siteserv. Then claim a certain individual is entitled to their good name but she is shameful. Heard it all now.
Make up you mind dearie.
You have previously “accused” me of supporting FG, FF and Labour. Unlike you have I state what I think – not the SF/IRA tripe that you spout.
What are you on about. Your clearly loosing it . Carry on . Dear lord.
Powerabbey, it’s not in anyway awful. People have to be aware of what is going on in the country. Have to be made aware of the wholesale corruption that surrounds this government and those who benefit from the largesse of the government for their own benefit.
What is really shameful is the media’s reluctance to inform the people of what is being done in their name by the government, and who benefits from it.
But we know where your interests lie, and it’s not in the truth of the governments dealings.
Little One – unlike you I think EVERYONE is entitled to their good name. It is the highest level of slieveenness to hide behind the privilege of the Dail.
Powerabbey,without the likes of Catherine Murphy,f/g would run amok unquestioned.
Regina Doherty is another case in point,her business fails so she jumps on the public trough..owing the state tens of thousands and getting promoted for it???Fine Gael are corrupt to their core.
Unless it’s Catherine Murphy, then power abbey. What was it you called her shameful. You call her shameful becashe mentioned names. Shows where your priorities are.
Haha. You still have comprehended this was a debate on irbc, siteserv. Who got the biggest writedowns from irbc , who bought siteserv. That’s right power abbey dob.
Little One – read what I said before you comment.
“Unlike you have I state what I think – not the SF/IRA tripe that you spout.”
“Little One – unlike you I think EVERYONE is entitled to their good name.”
Ha ha Power Ranger still a gobsh!te I see LOL :-)
Lessie – still the same high level of comment.
As opposed to what? contradicting yourself in the space of 3 minutes :-)
Little One – Do you actually read your comments before you submit??
Lessie – What?
Powerabbey, that’s everyone who isn’t a member of SF? Mick Wallace? Paul Murphy?
No one who uses the courts, and tries to stifle the democratic institution of the state, to cover up their financial dealings is not entitled to any good name.
“Lessie – What?”
Yeah I think I would play dumb too if I was after making that much of a knob of myself.
Dave, Lessie, Little One, Al Ca – my last comment on this.
Every citizen is entitled to their good name. Honest citizens and politicians state their view in public where they can be called to account!
I know that this does not suit you guys!
Littleone, Powerabbey has called Catherine Murphy a liar among other names when the Siteserv scandal first broke. And he has the neck to say he thinks everyone is entitled a good name.
Powerabbey, thats pure boll!x.
When any individual uses the officies of a corrupt FG government minister to gain a very lucrative Telecom contract, uses a government institution, paid for by taxpayer’s money, to buy a bankrupt company with a writedown of hundreds of millions, and then gains another government contract that was submitted well after the due date, questions have to be asked.
When another government minister, Noonan this time, does all he can to mislead and obstruct giving answers to legitimate questions asked, you imagine for one second everything this person does is above board, and doesn’t sully his name in any way, your a disingenuous fool.
@ powerabbey : “Little One – unlike you I think EVERYONE is entitled to their good name”
Really? Because you have accused the same person on many occasions of criminality, despite them never been convicted or even charged of such.
thejournal.ie/profile/35484/the-cult-sfira-never-agree-commandant-involved-mass-3643857/
Powerabbey
Apr 6th 2015, 8:01 AM
“The cult of SF/IRA will never agree that the commandant was involved in mass murder.”
thejournal.ie/profile/35484/well-gerry-experience-starting-wars-finishing-ones-started-3182828/
Powerabbey
Dec 2nd 2014, 8:05 AM
“Well Gerry has experience in starting wars and finishing the ones he started.”
thejournal.ie/profile/35484/isnt-awful-media-against-republicans-irasf-4634995/
Powerabbey
Jan 8th 2016, 3:51 PM
“Poor auld Gerry (IRA/SF President for Life) is in the position that he is currently the only person alive who believes that he was not THE commander in the IRA.”`
thejournal.ie/profile/35484/it-seems-income-northern-bank-3535318/
Powerabbey
Mar 7th 2015, 11:34 PM
“It also seems that he has an income from the Northern Bank”
Pull your socks up cupcake, nobody likes a hypocrite.
I detest O Brien but Murphy is just being used as a puppet here and needs to be careful even allowing Dail cover.
James, who’s using her, and to what purpose?
I don’t know the answer to that Dave.
Then why claim she is? To me, she is a conscientious, diligent TD who is not afraid to expose and ask questions about the corruption this person, in collusion with the government, is involved in. Himself and the government dont want us to know and have done all they can to stop these public interest questions being raised.
I never said she wasn’t Dave
Not a peep from Tommy aka Dane. Why am i not suprised.
James, you said Murphy is just being used as a puppet????????????
Yes I did Dave
James, can you reveal to us mere mortals who exactly is using the indomitable, incorruptible and highly intelligent Catherine Murphy as a ‘puppet’?
have your say