Chef Mr Conrad Gallagher was insolvent before he moved his restaurant to the Fitzwilliam Hotel the Dublin Circuit Court heard today.
Representing the owners of the hotel, Ampleforth Ltd, Mr Michael Holland, managing director the company, told Dublin Circuit Criminal Court that Mr Gallagher was £92,000 in debt before he came into the Fitzwilliam Hotel and gave two different explanations as to why the paintings went missing.
Mr Holland said Ampleforth Ltd had loaned Mr Gallagher £50,000 to ease his cash-flow problems and paid £40,000 for financial consultants for Mr Gallagher. He also said the company waived rent for a period.
Mr Gallagher ran the entire food department of the Fitzwillian Hotel and operated Christopher's Brasserie from June 1998 and moved his Peacock Alley restaurant to the hotel in October 1998.
Mr Gallagher (32) and with an address at Pembroke Road, Ballsbridge, denies stealing three abstract Felim Egan paintings from the Fitzwilliam Hotel on St Stephens Green on dates unknown between November 2nd and November 22nd, 2000.
He has also pleaded not guilty to obtaining money by false pretences on November 21st, 2000.
Judge Yvonne Murphy will continue hearing the case tomorrow.