Auctioneer got £270,000 from Brennan firm

Auctioneer Mr John Finnegan was paid over £270,000 in a "gentleman's agreement" with builders Brennan and McGowan involving three land transactions in Dublin, the tribunal has heard.

The money was paid even though Mr Finnegan had no interest in the pieces of land and acted for the parties who sold them to Brennan and McGowan.

Mr Pat Hanratty SC, for the tribunal, suggested it was inconceivable that Mr Tom Brennan was unaware of the reason Mr Finnegan was receiving this money. "Essentially, the money was coming straight out of your pocket," Mr Hanratty said.

Mr Brennan said Mr Finnegan had handled the negotiations, which took place in the 1970s. Builders always faced the problem of finding good land and Mr Finnegan had "terrific knowledge" of infill sites in Dublin.

Mr Finnegan was paid £105,000 in respect of lands at Monkstown, £101,000 in respect of lands at Donnybrook and £67,000 for a deal at Newtownpark Avenue, Blackrock.

Asked what Mr Finnegan "brought to the table" in the Newtownpark Avenue deal, Mr Brennan said he and Mr McGowan had to "go faster or someone else would get the land".

Mr Hanratty said Mr McGowan knew the seller personally. He could have dealt with him directly. Mr Brennan was not being truthful by failing to tell the tribunal of the real reason Mr Finnegan was paid.

Asked what criteria were applied to decide the amount paid to Mr Finnegan, the witness said the three parties each got a third of the estimated sale price of the land.

Mr Hanratty said this was not the case. Brennan and McGowan and Mr Finnegan agreed Mr Finnegan's payment in advance and arrangements were then put in place to ensure he got the money offshore.

He accused Mr Brennan of deliberately withholding information about the matter.

"So far, you have told the tribunal absolutely nothing at all. When are you going to tell us about these things?" counsel asked. It was about time Mr Brennan stopped "kicking to touch".

Mr Martin Hayden SC, for Brennan and McGowan, said it was unfair to the witness for Mr Hanratty to pick topics from a 30-year period and expect him to answer questions "to the nth degree" without any notice.

Mr Justice Flood said the situation was ridiculous. The witness was answering "I don't know" or "I'll have to look into it" to many questions. It was about time he provided information.