Michael Lowry's Irish Nationwide debts and undeclared land deal

[PaddyJoe]

It is her assertion that he attempted to strike her.

Pretty scandalous behaviour from public representative if correct.

A resigning matter, imo.

Presumably the camera man saw what happened. I wonder if there were any other witnesses?

[Captain Con O'Sullivan]

Amazing how often the state is nudged in the direction of investing money in a scheme where an interested party is holding an investment isn't it?

I wouldn't mind looking at property transactions around the proposed site of the National Children's Hospital and seeing who has been active in the property market around there since Ahern and co plumped for that particular spot.

[TotalMayhem]

I'd say he would not think twice. he is lower than the lowest of the low

Low, lower, Lowry

[PaddyJoe]

A couple of questions. Are there any penalties for failing to make a complete declaration of your interests on the Dail register? I doubt if there anything more serious than a rap across the knuckles from SIPO.
If Lowry continues to be an 'uncooperative' borrower what kind of measures will IRBC take against him? Legal action including the threat of making him bankrupt?

[Captain Con O'Sullivan]

He'll be forced to hop one-legged across the floor of the House (in closed session in case the nation should become paralysed altogether with fright) at half-past eleven one night.

Or they might make him change the knot in his tie. Something fairly drastic anyway.

[PaddyJoe]

Lowry's relationship with Fingleton and Irish Nationwide goes way back:

FORMER Irish Nationwide boss Michael Fingleton met Michael Lowry and "within a matter of days" gave him a IR£200,000 loan for a controversial property purchase.

According to the report of the Moriarty Tribunal, Mr Fingleton gave Mr Lowry 100pc finance for the purchase of a house in Carysfort Avenue in Blackrock, Dublin, after their meeting. Mr Lowry bought it as a second home in 1996.

In its report, the tribunal also investigated the subsidiary of Irish Nationwide in the Isle of Man, which provided an offshore bank account to Mr Lowry.

The Tipperary North TD gave the address of a Dublin accountancy firm in Foxrock as his contact for that account. But he later admitted that he had never sought the consent of the firm before doing this.

When the tribunal sought to call as a witness Karl Tully, the Isle of Man-based official who set up the account for Mr Lowry as a witness, he refused to give evidence.

Mr Fingleton said there was nothing he could do about this -- even though he was a member of the board of the Isle of Man bank.

He said the building society had made its wishes for full co-operation known to the board.

The tribunal said this was "reprehensible" and that Mr Fingleton had "not readily or satisfactorily explained" why Irish Nationwide's fully owned subsidiary had not complied with the tribunal's request for Mr Tully to attend.

http://www.independent.ie/national-n...n-2592491.html

[Baron von Biffo]

I wonder if this was the subject of his meet with his pal Hogan (you know, the meet, Baron so vehemently defends as representation of the esteemed TD's constituents).

Well I was actually arguing the principle that all TDs have an equal mandate and that it would be a dangerous precedent to allow ministers to blacklist inconvenient TDs.

Sorry, I know that it's the height of vulgarity to post facts but I can't help myself. It's a sort of internet tourettes.

[TotalMayhem]

Well I was actually arguing the principle that all TDs have an equal mandate and that it would be a dangerous precedent to allow ministers to blacklist inconvenient TDs.

Sorry, I know that it's the height of vulgarity to post facts but I can't help myself. It's a sort of internet tourettes.

We do know the meeting took place, but that's where all factuality ends. Whom he was really representing that day, we can only assume.

[PaddyJoe]

Colm Keena has a piece on Lowry and his undeclared land interests on the front page of tomorrow's IT.

[DCon]

Colm Keena has a piece on Lowry and his undeclared land interests on the front page of tomorrow's IT.

from the article

The Oireachtas register of members’ interests states Mr Lowry is a director of Abbeygreen Consulting Ltd and of Garuda Ltd. A business premises in Tipperary owned by Garuda is declared in Mr Lowry’s entry in the register where members are asked to declare land they own.

However, Mr Lowry does not make any such declaration in relation to land owned by Abbeygreen.

Files in the Land Registry show Abbeygreen is the full owner of land at Gortnahoe, near Two-Mile Borris, in Co Tipperary.

The company is registered as having become the owner of the land on May 9th, 2011, two months after the Moriarty report was published.

In August 1996, soon after he had become a government minister, Mr Lowry was given a 100 per cent Irish Nationwide loan by Mr Fingleton to buy a house in Blackrock, Co Dublin.

http://www.irishtimes.com/newspaper/...315105598.html

I wonder if Lowry was living in Blackrock while claiming travel expenses from Tipp?

[Captain Con O'Sullivan]

In August 1996, soon after he had become a government minister, Mr Lowry was given a 100 per cent Irish Nationwide loan by Mr Fingleton to buy a house in Blackrock, Co Dublin.

I wonder how many other Irish politicians got 100% loans on a five day turnaround from Mr Fingleton or from Anglo 'soon after' they became Ministers?

I'm sure the Gardai will notice that too in their enquiries into the Irish banking sector and will be looking at the paperwork to make sure it was all done on the basis of a proper loan application. And whether the loan documentation was marked 'recourse' or 'non-recourse' like all other applications for bank loans.

Give the stubby pencil another lick there, Garda Joe.

[PaddyJoe]

Interesting that Lowry's accountants took legal action against him:

It has also emerged that last year the Dublin firm of accountants, which acts for Mr Lowry’s companies, initiated High Court action against him. The case was discontinued. The reasons behind the case being initiated are not known. Efforts to contact Mr Lowry yesterday were not successful.
“We never discuss our clients’ business, especially with journalists,” said Neale O’Hanlon, a partner with BBT Accountants, Foxrock, Dublin, when asked about the case. “We have absolutely no comment at all.”
The case was filed in late May 2011 and discontinued two days later. A partner in the firm, Denis O’Connor, assisted Mr Lowry in his dealings with the Moriarty tribunal and was heavily criticised in its second report in relation to certain dealings with the tribunal.

http://www.irishtimes.com/newspaper/...315105598.html

[FintanC]

The Michael Lowry v BBT legal story has been in the newspapers before. It was in the Sunday Business Post some time ago....

The Sunday Business Post,


Independent TD Michael Lowry was served with legal proceedings by his accountant, Denis O’Connor, in recent days amid mounting concern over an estimated €1.4 million in unpaid fees.

The legal action, which was subsequently withdrawn, could have put pressure on the Moriarty Tribunal to speed up a decision on the former minister’s costs.

There was concern in O’Connor’s Foxrock-based firm, BBT Chartered Accountants, that the firm was relying on the tribunal awarding Lowry his costs for its fees.

The legal proceedings could have strengthened Lowry’s attempts to obtain a rapid decision from Mr Justice Michael Moriarty on his estimated €7 million cost bill.

O’Connor and Lowry have been personal friends since the 1980s. It is understood that the two men remain friends and that the firm continues to manage Lowry’s accounts.

The Moriarty Tribunal was critical of the relationship between O’Connor and Lowry when it issued its final report in March.

[Slim Buddha]

The Michael Lowry v BBT legal story has been in the newspapers before. It was in the Sunday Business Post some time ago....

The Sunday Business Post,


Independent TD Michael Lowry was served with legal proceedings by his accountant, Denis O’Connor, in recent days amid mounting concern over an estimated €1.4 million in unpaid fees.

The legal action, which was subsequently withdrawn, could have put pressure on the Moriarty Tribunal to speed up a decision on the former minister’s costs.

There was concern in O’Connor’s Foxrock-based firm, BBT Chartered Accountants, that the firm was relying on the tribunal awarding Lowry his costs for its fees.

The legal proceedings could have strengthened Lowry’s attempts to obtain a rapid decision from Mr Justice Michael Moriarty on his estimated €7 million cost bill.

O’Connor and Lowry have been personal friends since the 1980s. It is understood that the two men remain friends and that the firm continues to manage Lowry’s accounts.

The Moriarty Tribunal was critical of the relationship between O’Connor and Lowry when it issued its final report in March.

In other words, the two of them got together to find a way to get the judge to hurry up and stiff the taxpayer for Lowry's bill as quickly as possible.

[musashi]

Wow this guy is a bona fide Tipperary cowboy yet he represents Joe Public.

Lowry owes his mate the accountant 7,000,000ish.
The accountant knows everything.
Moriarty will not award Lowry his costs.
I wonder what happens next.