Builder cannot find documents on `Burke payment'

The builder Mr Tom Brennan told the Flood tribunal he can find no documents to support his contention that Mr Ray Burke paid money for the site and house provided for him by one of Mr Brennan's companies, Oak Park Developments.

After Mr Brennan claimed last month that Mr Burke paid £15,000 in the early 1970s for the property, Briargate, in Swords, the tribunal asked him to see if he had records to show this was the case. In earlier evidence, the solicitor who handled the conveyance told the tribunal no money had changed hands.

Mr Brennan said yesterday he had been "on to everybody" but had found nothing. "It was 30 years ago. That's a long time."

Mr Pat Hanratty SC, for the tribunal, said it had checked the accounts and records of Oak Park but had found no trace of a payment from Mr Burke.

He said it was highly unusual not to be able to track such payments through the usual routes, such as banks and building societies.

The tribunal had resumed questioning of Mr Brennan after a week's break. This was caused by the High Court challenge to the tribunal initiated by auctioneer Mr John Finnegan, and delays in delivery of financial records from Mr Brennan.

It emerged yesterday that Mr Brennan and Mr Joe McGowan wrote to the tribunal last week seeking an adjournment until Mr Finnegan's High Court case had been heard. Lawyers for the two builders argued that the principles being tested in the court were equally applicable to their clients.

However, in the absence of any stay or injunction from the High Court, and given that Mr Finnegan sought no stay or injunction, Mr Justice Flood resumed hearings yesterday.

Mr Hanratty's questioning focused once again on the complex financial transactions, many of them offshore, involving Mr Brennan, Mr McGowan and Mr Finnegan. Mr Hanratty said the reason for this was that the tribunal was trying to understand what payments were made to Mr Burke and why.

Counsel asked about a property transaction on Newtownpark Avenue, Black rock, Dublin, in which £624,000 was transferred to Arippe Investments, a Jersey-based company owned by Brennan and McGowan. He asked why this money was given to Arippe as an interest-free loan. What happened to £404,000 of this money which was transferred back to Ireland?

Mr McGowan said he didn't know. The structure had been put in place by his financial adviser, Mr Hugh Owens.

On another property on Tritonville Road, the witness said Mr Finnegan was involved as a partner in this deal because he helped Brennan and McGowan to negotiate the deal. The freehold interest was sold by Pembroke Estates, of which Mr Finnegan was a director.

Mr Finnegan received a one-third share of the proceeds, although he did not have any beneficial ownership in the purchasing company.